ITC ON CREDIT CARD INTEREST


This query is : Resolved 

Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) for GST can be claimed on interest paid for credit card loans. The consensus from experts is that if the credit card loan is exclusively used for business purposes, then the ITC on the interest is indeed claimable. This provides a valuable insight for businesses utilising credit cards for their operational financing.

04 December 2023 Dear Experts,

Can we avail ITC of GST on credit card loan interest?

Credit card loan is used for business purpose only.

Thanking You
Nirmal

05 December 2023 Yes, you can avail ITC in such a case.

07 December 2023 Thank You Sir for your valuable advise.

12 December 2023 You are welcome....
...


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