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claiming of input credit of plant

ITC / Input 135 views 2 replies

Satish Kavitake

395 Points Posted on 27 June 2018

Proprietary concern have purchased plant and after 3 month he has given to partnership for business as capital. whether he can claim input credit available against partners remuneration and interest on capital

if not, is there any way out to claim gst input credit

pl advise

Replies (2)

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 27 June 2018

Originally posted by : Satish Kavitake
	Proprietary concern have purchased plant and after 3 month he has given to partnership for business as capital. whether he can claim input credit available against partners remuneration and interest on capital if not, is there any way out to claim gst input creditpl advise

Query not cleared...

Purchased Plant for what...?

Why these include Remuneration and Interest...? Bcoz., It's IT matter...

Explai Yourself for the details...

Pankaj Rawat

GST Practitioner

55067 Points Posted on 27 June 2018

Dear , plz your query not clear , ..

Proprietary Firm sold plant to partnership firm : Yes partnership firm can take input for the same

Input credit on partner salary & Interest on capital is out of GST, so no GST on same