MIGHT YOU PL CLARIFY BELOW DOUBTS
1.one of our client manufacturing foods products , purchased Truck for material transportation . can we claim input for truck?
2.one of my client providing works contract services , received 500000 advance from his client and paid 500000 advance same day to sub contractor ?
3.can we claim gst input on insurance premium for co-operative bank ?
THANKS INADVANCE
1. No, you are not able to claim the ITC.
2. Please clarify the question.
3. Yes, You can claim.
2ND QUESTIONON
2.one of my client providing works contract services , received 500000 advance from his client and paid 500000 advance same day to sub contractor ?
IN ABOVE CASE WHO WILL PAY GST ON ADVANCE?
Both transaction are seperate and liable to charge GST. You need to pay the GST on advance received by you. And your sub-contractor need to pay GST on advance received by them.
we took insurence policy in novmber month , policy valid nov 2017 to oct 2018 , can we claim input in single shot( can we utilize 100% itc in November month )?
Thanks in advance
You can claim GST on that in one shot.
one of our client manufacturing foods products , purchased Truck for material transportation . can we claim input for truck?
as per cgst 17(5) credit allowed.
CAclubindia
