itc
This query is : Resolved
Prakash Rao
(Querist)
24 August 2017
Being an individual receiving inward services of Rs 14 lacs per month as business and management services. My qtn is whether I can avail ITC on all purchases like stationery, building materials etc Pl specify what precautionary to be taken by me
Amol S Joglekar
(Expert)
25 August 2017
yes, you can claim ITC.
The precaution is.....let us say printing and stationery is 1000 and gst is 180.
If you opt for ITC under gst, claim 1000 in P & L account under income tax
Alternatively, if you dont claimITC under gst, you can claim 1180 in P & L account under income tax.
The precaution is.....let us say printing and stationery is 1000 and gst is 180.
If you opt for ITC under gst, claim 1000 in P & L account under income tax
Alternatively, if you dont claimITC under gst, you can claim 1180 in P & L account under income tax.
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