Is 5% GST eligible ITC?
This query is : Resolved
Quick Summary
08 June 2021
Hello experts,
I took a flight for business purpose in April. Airline invoice shows Rs.4300+5% (SGST/CGST). My April GSTR2B shows this entry under eligible ITC. I however remember someone telling me that 5% GST cannot be claimed as ITC. How true is this? Under what circumstances can I claim 5% GST as eligible ITC?
Thank you in advance.
Raj
I took a flight for business purpose in April. Airline invoice shows Rs.4300+5% (SGST/CGST). My April GSTR2B shows this entry under eligible ITC. I however remember someone telling me that 5% GST cannot be claimed as ITC. How true is this? Under what circumstances can I claim 5% GST as eligible ITC?
Thank you in advance.
Raj
CA Altamush Zafar
(Expert)
08 June 2021
ITC is available on such travel
08 June 2021
Okay. The specific point that I need clarification for is - "Can I claim all 5% GST as eligible ITC?"
Is there any restriction when claiming ITC for 5% GST?
In other words, when can I not claim the 5% GST as ITC?
Is there any restriction when claiming ITC for 5% GST?
In other words, when can I not claim the 5% GST as ITC?
Gokul Sharma
(Expert)
08 June 2021
ITC should be ineligible as personal nature exp.
CA Altamush Zafar
(Expert)
08 June 2021
If it is in the course of business travel ITC available. No restrictions. You can claim ITC
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08 June 2021
Gokul ji, it was for business purpose. I traveled for a client meeting.
08 June 2021
Altamush ji, thank you. Yes the travel was purely for business reason.
A follow-up question that I have is, if somethings shows up in my GSTR2B or gets auto-populated in GSTR3B under eligible ITC, can I safely take credit of that? Or do I have to again check if it contains ineligible items (Blocked ITC under GST – Section 17(5))?
A follow-up question that I have is, if somethings shows up in my GSTR2B or gets auto-populated in GSTR3B under eligible ITC, can I safely take credit of that? Or do I have to again check if it contains ineligible items (Blocked ITC under GST – Section 17(5))?
CA Altamush Zafar
(Expert)
08 June 2021
You will have to check the provisions of section 17 before taking it.
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CA Altamush Zafar
(Expert)
08 June 2021
You are most welcome
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