Can we take the input tax credit

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This discussion explores whether a trading business can claim Input Tax Credit (ITC) on sports equipment like rocket bat balls purchased for staff use. The general rule is that ITC is not allowed for items of a personal nature or those not used in furtherance of business. However, the eligibility depends on the specific nature of the business and how the equipment is used.

Mohamed Umar

Mohamed Umar (Querist)
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20 July 2024 can we take the input tax credit for sports tools like rocket bat balls etc

Gokul Sharma

Gokul Sharma (Expert)
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20 July 2024 what is your nature of business..........
ITC not allowed for Personal Nature of Use items and which in not related in furtherance of business.

Mohamed Umar

Mohamed Umar (Querist)
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20 July 2024 We are traders and we just bought the sports tools for the staff purpose

Mohamed Umar

Mohamed Umar (Querist)
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20 July 2024 It's worth around Rs10,000.

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