Claiming ITC on new Shampoo /Watch / cupboard purchase

ITC / Input 920 views 3 replies

pr br

319 Points Joined September 2018

I hold a business account on amazon India website and I am into stock brokerage commission business as sole proprietor individual . I do purchase lot of things from amazon India website for business and personal . ITC already reflecting on my GSTR-2A .

Can I take ITC for the above purchases?

I understand one can take ITC for purchase used for the advancement of the business. here I am a service provider,As a commission agent, I am giving service to the client so products used by me eligible for ITC or not ?

I am not trading /re-selling these cosmatic porducts or watches , all used for personal use only*

Replies (3)

Anshuman Basu

account -GST

1560 Points Joined June 2018

If this product are given to your clients as a gift then are not take ITC. it is block credit. but it is use for business promotion then you are liable to take ITC

Shivam RC

Student

23688 Points Joined November 2017

As per the Provision of Section 17(5) clause (g) of the CGST Act 2017, ITC on Goods or Services used for "PERSONAL CONSUMPTION" is specifically BLOCKED.

Since you are using these cosmetics products and watches for personal consumption, so ITC on these products is ineligible. You have to reverse it.

Regards,
Shivam RC.