Dear all,
we had purchased ms tubes and steel for the purpose of display our material like interior design items. shall we avail claim on steel
please help me
availment of input credit on steel
Replies (4)
if it forming part of building then no. otherwise we need to check what kind of supply and your purpose, then I can confirm say anything.
Yes... You can avail the benefit of ITC if you ll convert the materials to Fixed Assets...
Dear Mr. Raja pm are you saying that we can take input credit only in case of capitalisation of material of building. we can't take credit of material and Labour if we post it in profit & loss a/c as repair expenses. Plz reply.
1. In case A Steel Trader use the Steel to their own use as per above its consider "Self Consumption"and the ITC will be reversible...
2. As per above "Other than Related business" also he can't sell the goods. He use it displays his goods so, it's under "Furniture and Fittings"..
2. As per above "Other than Related business" also he can't sell the goods. He use it displays his goods so, it's under "Furniture and Fittings"..
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