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GST on Mutual Fund

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DEBASISH BODHAK

DEBASISH BODHAK (Querist)
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26 May 2022 A Software consultancy Pvt Ltd. Company - Invested money in Mutual Fund. Can it claim GST paid on Mutual Fund purchased as input GST?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 May 2022 As per my view ITC can not be claimed as GST paid is not related to output supply of company and only for investment purpose.

DEBASISH BODHAK

DEBASISH BODHAK (Querist)
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27 May 2022 Thank you for your reply. One more question, whether Input GST on MF purchased is deductible expenses under Income Tax Act? Is it a Profit and Loss Item?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 June 2022 Yes, it can be deductible, when income is declared under head PGBP.

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