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
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
