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No. ITC (input tax credit) is not applicable for unregistered businesses. To help you understand this, let me tell you a bit about reverse charge mechanism of GST. Every time a registered dealers deals with an unregistered dealer, registered dealer becomes liable to pay tax on the transacted goods. It simply means that the registered recipient dealer becomes liable to pay tax instead of unregistered supplier. This tax paid by the registered recipient dealer is reverse charge. So, to keep it simple, registered buyers have to pay GST for the goods received from unregistered sellers.Now, let’s come to the situation mentioned by you. Registered dealer (A) sells it to unregistered dealer (B). B cannot claim ITC as he is unregistered. Now B sells the same product to a registered dealer (C). Here, C is liable to pay reverse charge and can claim ITC for the same. Now if C sells the same to a registered dealer (D), the dealer D can also claim ITC as C has paid reverse charges. But, the tax paid by A cannot be claimed anywhere as ITC in this chain transaction.The interesting part of GST is its self-policing mechanism. Seamless flow of input tax credit is possible only when all the suppliers of a business pay GST. So each business will make sure that its suppliers have paid the GST so that they can take input tax credit. If any unregistered dealer comes in the transaction chain, reverse charge applies, which is like an additional check to ensure that the buyer pays the tax in cases where unregistered suppliers fails to pay GST.Considering the complexities involved, I would suggest you to avoid dealing with unregistered suppliers. If your suppliers are unregistered, you will have to pay the GST on their behalf in the form of reverse charges. This will increase your paper-work and can cause cash-flow issues as well.Also, if you’re a supplier and toying with the idea of escaping the GST by misstating your turnover within the threshold limit, think again. With the reverse charge falling on the buyer, your business might be affected as companies would prefer to deal with only GST registered suppliers to claim ITC.Let us make our businesses GST compliant, pay the indirect taxes promptly to the government and play our part to build strong India! Jai Hind!

High utilization of revolving credit.if all your revolving credit has high utilization are leaning towards max limits it can be rejected

A “reference” is a person whom you offer to be able to attest to your “good name”, but different references will have insights about different aspects of your reputation.A high school student may ask a teacher or school counselor for a reference in an application for admission to a college, a former employer may be able to attest that a job applicant has specific skills and proper work attitude.On an application requesting a credit reference, the credit reference would hopefully attest to one’s diligence in abiding by agreements to repay loans or to make other payments that one has agreed to.