Input Tax Credit for Gold/Silver purchase


This query is : Resolved 

Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on gold and silver purchased for personal consumption. The consensus is that ITC is not applicable for items intended for personal use and not intended as gifts. Therefore, you cannot claim ITC in such scenarios.

09 August 2020 Can we claim ITC for gold/silver purchased for own use & it will not be given as gift to anyone

09 August 2020 No ITC can be claimed for own use items.

09 August 2020 Agree with Mr.Seetharaman ji.


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