Hi, can I claim GST refund in a situation where I buy .com domains (inclusive of 18% GST) and make websites to earn revenue? I am not re-selling these domains/websites to anyone but this is my mode of income from other sources.
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Can gst refund be claimed on input tax?
Replies (13)
This domain will be treated as your intangible asset under accounts.
And also under GST law these is your inward supply and you can claim ITC if your outward supply taxable supply.
And also under GST law these is your inward supply and you can claim ITC if your outward supply taxable supply.
So, what's the relation between intangible assets vs GST? And, true this is my inward supply but there is no direct as such outward supply. I pay income tax on the revenues generated from these websites for which domain purchase is like the raw material input for production.
i refered intangible asset just fo your kind knowledge . There is no such relation between intangible asset and GST.
i refered intangible asset just fo your kind knowledge . There is no such relation between intangible asset and GST.
For ITC if you issue tax invoice to your customer then you can claim ITC .
Ok thanks for the info but I wanted to know like is it that "intangible assets" cannot be enabled for GST?
intangible asset is different concept and GST is totally different .
GST is a law but accounting is not a law so don't mixup these both things.
GST is a law but accounting is not a law so don't mixup these both things.
intangible asset is different concept and GST is totally different .
GST is a law but accounting is not a law so don't mixup these both things.
GST is a law but accounting is not a law so don't mixup these both things.
intangible asset is different concept and GST is totally different .
GST is a law but accounting is not a law so don't mixup these both things.
GST is a law but accounting is not a law so don't mixup these both things.
no relation
no relation
no relation between two
no relation between two
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