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.