Ad-Free CAclubindia and daily updates on your mobile. Subscribe Now!

input tax credit

vijay c sajjan (5 Points)

08 January 2019

whether a trading company is allowed to take credit on research and development expenses

Reply
Follow
Share

9 Replies

Ravi SADhiyan (Practice) (4510 Points)
Replied 08 January 2019

In Practical Possible R&D by Trader

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

vijay c sajjan (5 Points)
Replied 08 January 2019

this is the case where R&D is not directly related to the goods traded by the company

Pankaj Rawat (GST Practitioner) (55042 Points)
Replied 08 January 2019

Yes ,... if it's for furtherance of business

1 Like

Ashish Kumar (40 Points)
Replied 08 January 2019

not allowed because input tax credit should be related output tradings

Sanjiv Rajpoot (3430 Points)
Replied 08 January 2019

can Claim iTC IF it use for in course of furthrance of bussiness

Upgrade to CAclubindia Pro. Subscribe Now!

pritesh (CA Final student) (7101 Points)
Replied 09 January 2019

If it is for your business then you can claim itc.

Vinod Babu (24191 Points)
Replied 09 January 2019

Yes you can take ITC when used for furtherance of business.

For taking ITC., following should also be satisfied

1. Gst registration should be regular type
2. Invoice bill should bears the company name & Gstin
3. Gst bill should be of B2B(should be reflected in 2A)

1 Like