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GST CREDIT

This query is : Resolved 
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(Querist)
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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
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.
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Gokul Sharma

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Gokul Sharma (Expert)
20 May 2020 YES THESE TRANSECTION ARE NOT IN FURTHERANCE OF BUSINESS........
NOT ALLOWED TO CHARGE IN P&L AND ITC ALSO NOT AVAILABLE.
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