Input credit
This query is : Resolved
15 November 2018
Respected Sir/Madam,
My question is that can a retailer take input credit of Silver Coin if they are not in the business of jewellery?
Thanks & Regards,
Jignesh
My question is that can a retailer take input credit of Silver Coin if they are not in the business of jewellery?
Thanks & Regards,
Jignesh
15 November 2018
No, ITC can be taken only in the business of jewellery.
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15 November 2018
Ok Thank you so much Sir and kindly refer any section/notification no for the same.
15 November 2018
GST Input Tax Credit Rules
You must be registered as a taxable person under GST.
Goods & services on which you want to claim ITC should have been used only for business purposes.
Input Tax Credit can be claimed on taxable & zero-rated supplies (exports).
You must be registered as a taxable person under GST.
Goods & services on which you want to claim ITC should have been used only for business purposes.
Input Tax Credit can be claimed on taxable & zero-rated supplies (exports).
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