ITC limitation On purchase of mobile
This query is : Resolved
16 August 2022
Xyz Pvt Ltd has 2 directors.
They want to purchase 2 ihones for themselves and 2 more mobile for employees.
Can they claim ITC on all 4 phones?
Is there any limitation on claiming ITC on purchase of mobile phone?
They want to purchase 2 ihones for themselves and 2 more mobile for employees.
Can they claim ITC on all 4 phones?
Is there any limitation on claiming ITC on purchase of mobile phone?
18 August 2022
Section 16 of CGST Act, clearly states that input tax credit can be taken of any good or service purchased for 'Furtherance of Business'. Section 17(5) is also not restricted input tax credit on purchase of Mobile phone. Thus, a taxpayer is eligible to take input tax credit on purchase of Mobile phone.
18 August 2022
Yes ITC is eligible against the mobile phones if they are accounted for in the books of accounts of the company as capital expenditure and are used for business.
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
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- Inter corporate deposits
- Invoice V/S Goods receipt Note Date
- Regarding appeal to GSTAT
- Multiple trade mark
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- 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
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
- Clarification Required on GST Rate & HSN Classification – Millet-Based Probiotic Drink
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
