Input tax credit
This query is : Resolved
08 August 2017
in a business of renting heavy earthmovers like JCB Machines and Loaders, a large amount of direct expenses is there in form of Grees-Lubricants and Parts-Accessories and repair/maintenance.
Is ITC is admissible on all these expenses.
Beside this is can one take ITC on all business expenses like telephone/stationaries/accounting softwares exp/Bank charges; except on Travelling and Fooding exp.
Kindly elaborate and advice.
Thanks
Is ITC is admissible on all these expenses.
Beside this is can one take ITC on all business expenses like telephone/stationaries/accounting softwares exp/Bank charges; except on Travelling and Fooding exp.
Kindly elaborate and advice.
Thanks
08 August 2017
Yes. You can Take ITC. If all bills are received from Registered Dealer (regular) then only you can claim ITC.
If not you ll be pay Tax under RCM basis then you can reverse it on next returns..
If not you ll be pay Tax under RCM basis then you can reverse it on next returns..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TWO FIRM NAME IN ONE GST NUMBER
- ITR -1 Filing
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Eway issued more than one
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- SEA GOING ALLOWANCE
- Trust 10AB form required for old asst. years?
- Transfer of rectification rights to ao
- Which ITR application
- TDS whether applicable or not in case of Flat purchase
- SALES MADE THROUGH E COMMERCE OPERATOR 9(5)
- Igst utilisation query
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- REGARDING PERALLEL PROCEEDINGS CAN MOVE TOGETHER FOR SAME MATTER
Trending Online Classes
CAclubindia
