ITC can claim Pharmacy if run on Hospital Pan
This query is : Resolved
13 November 2020
Our Hospital is under a Educational Trust which have a 12AA Exemption from income tax department.
now our question is ?
1. if we make pharmacy under Trust pan no. then we can got examption u/s 12aa on pharmacy profit
2. Can we claim ITC of Medicine bills full or proportionately under Gst Act.
please give your correct and prompt advised.
thanks
now our question is ?
1. if we make pharmacy under Trust pan no. then we can got examption u/s 12aa on pharmacy profit
2. Can we claim ITC of Medicine bills full or proportionately under Gst Act.
please give your correct and prompt advised.
thanks
13 November 2020
If you are getting exemption from GST then you can not ITC , in part or full for pharmacy business.
13 November 2020
If you are issuing tax invoice and charge GST on sale of medicine you can claim ITC on purchase of those medicine. No problem of using trust PAN 20% of such business income incidental to charity allowed.
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