Can we take ITC credit for amount paid to acquire club membership of a training institute that helps us provide training to our staff at a concessional rate ?
You cannot take ITC of membership payment because of it is covered under 17(5) i.e Block Credit even though such membership fess is for business related i.e for employees. However, if such training is given as part of obligation of employer created by law time being in force than you can take ITC.
Thank you for the answer. I am eligible to take ITC of the courses purchased from same entity for staff training as it is done for business purposes. However i cannot take the ITC of the membership fees given to acquire those courses for my courses at a concessional rate.
What would be the logic ??
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