Eligibility of ITC against GST paid on brokerage for share/stock trading

ITC / Input 2439 views 2 replies

Dear All,

I have a query regarding ITC to take against GST paid on brokerage for share/stock trading.

Example:

"A" is share/stock broker. “B” is Regular dealer under GST act. “B” is not doing any business/activity other than share Trading/investment.

"B" pays brokerage (Including GST) of Rs. 118000/-  (Brokerage 100000+ GST 18000) to "A".

Is “B” eligible to take ITC on GST paid to broker “A”?

Can “B” take refund in case of ITC credit balance of Rs.18000/-?

Can anyone give me clarity on the above query?

Thanks in advance.

Alpesh.

Replies (2)
No ,B can't take ITC in gst
bcz It's part of his investment

And what, if share/stock trading is business of "B" and not an investment. "B” is Regular dealer registered under GST act.


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