GST CREDIT
This query is : Resolved
Quick Summary
19 May 2020
Assess is engaged in Electronics( trading )business ,He purchases shares & paid gst on STT .
My query is that
1. can Assessee claim STT as Expenses & charged to P&L
A/C &
2.Can he take ITC (GST PAID ON STT ). Pls help
My query is that
1. can Assessee claim STT as Expenses & charged to P&L
A/C &
2.Can he take ITC (GST PAID ON STT ). Pls help
19 May 2020
1 STT can't be charged as expenses to P&L.
2 ITC can't be taken on GST paid on STT.
2 ITC can't be taken on GST paid on STT.
20 May 2020
YES THESE TRANSECTION ARE NOT IN FURTHERANCE OF BUSINESS........
NOT ALLOWED TO CHARGE IN P&L AND ITC ALSO NOT AVAILABLE.
NOT ALLOWED TO CHARGE IN P&L AND ITC ALSO NOT AVAILABLE.
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