Can input GST credit be taken on purchase of lights and other electrical items for shop. Shop is a pvt ltd company
also, can GST credit be taken for any assetts bought such computers, EPBX system etc.
Can input gst be taken on purchase and lights
Replies (4)
gst rate on peanut????
Trader can get credit of any goods procured in furtherence of business. In your case you can take on the lights, electrical items as well as on computers, EPABX etc. This is one of the advantges of GST which would go to reduce the cost of goods or enable a higher profit margin for a short time till everyone starts taking and market forces force the price down.
yes, agree with Madhukar g
Hope you have not opted for composite scheme. If opted you cannot get the INPUT credit
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