itc
This query is : Resolved
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
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.
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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- RULE 86B APPLICABILITY IN QRMP TAX PAYER
- Regarding appeal to GSTAT
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
