Itc

This query is : Open

bikash rai (Querist)
Follow

20 July 2017 Dear sir,

1. purchase of stationery or any item for daily business expenses from registered dealer can i get benefit of Input tax credit?
2. if I buy any item for daily business expenses from composite dealer, in this case can i get any benefit from composite dealer

thanks
Bikash rai

RAJA P M

RAJA P M (Expert)
Follow

21 July 2017 1. Yes, You can get ITC 2. No more Benefits. You loss your ITC purchase from Composition Dealer.

Message likes : 1 times

bikash rai

bikash rai (Querist)
Follow

21 July 2017 dear sir,
if I take ITC on Capital Goods, then can I charge Depreciation on that Capital goods later?

thanking you
Bikash Rai

RAJA P M

RAJA P M (Expert)
Follow

21 July 2017 No... You can take ITC. Then you can't opt depreciation in new GST rule.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mahendra zaveri

sachingurav

velichety.l.narasimharao

Mukund Thakur

shubham agrawal

Subscribe Now

Itc

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

Accountant

GST CONSULTANT

Senior Executive

GST CONSULTANCY