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GST Credit on BP monitor
I've purchased the BP monitor machine for our CA firm. Whether i can take the GST credit on that??
Replies (14)
For any input tax credit , you have follow section 16 (2) of the CGST act 2017
1) you must have Tax Invoice ,
2) one must received goods or services
3) supplier must pay tax to Govt account collected from you
4) you must file return 5
) It should reflect in 2A/2B .
6) ITC should not be under block credit , section 17(5) of the CGST act
So always follow above condition for ITC
1) you must have Tax Invoice ,
2) one must received goods or services
3) supplier must pay tax to Govt account collected from you
4) you must file return 5
) It should reflect in 2A/2B .
6) ITC should not be under block credit , section 17(5) of the CGST act
So always follow above condition for ITC
I think in this case ITC shall not be availed
If you are capitalising BP Monitor Machine in the Books of Acounts , please check with section 17(1) (2) of the CGST act 2017 and Rule 43 of the CGST rules 2017 applicable or not .
ITC related to health service is a blocked credit u/s 17(5). But can BP monitor be a part of health service? Am not sure. Lets see what others opine.
@ Poornima Madam
Yes , I alredy mentioned in the my 1st reply to confirm section 17(5) of the CGST act 2017 .
ITC is not available in this case
Dear Professionals,
Thank you so much for all your opinions.
But I've purchased this machine exclusively for our office use and treating it as a Fixed Asset. I think in this case i can eligible to take credit...
Thank you so much for all your opinions.
But I've purchased this machine exclusively for our office use and treating it as a Fixed Asset. I think in this case i can eligible to take credit...
If you're providing depreciation then ITC cannot be claimed
Dear Mr Sourav,
I'm not claiming depreciation on GST part, So i think now I'll be eligible
I'm not claiming depreciation on GST part, So i think now I'll be eligible
But if you see in section 17(5) (b) (i) , health services is under Block Credit , so BP monitor is under health services or not that you have to confirm before availing ITC .
No ITC is not available
Thank you all for your opinions.
Welcome Dear Prasad Hegde .
Your welcome
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