Menu
GST input claim
Can a trading dealer claim GST on purchase of AC for his shop (bussines premises)
Replies (2)
Quick Summary
Furtherns of business can be taken with supportive proof
Yes you can claim Input Tax Credit ( ITC ) on Air Conditioner ( AC ) purchased for your shop. It's a Capital Asset.
As per the Provision of Section 16(1) of the CGST Act 2017, Input Tax Credit ( ITC ) on Inputs, Input Services and Capital Goods which are used in the "course of or furtherance of business" can be claimed.
Just ensure that all the FOUR CONDITIONS as laid down under Section 16(2) of the CGST Act 2017 has been complied with before taking ITC.
Regards,
Shivam RC.
As per the Provision of Section 16(1) of the CGST Act 2017, Input Tax Credit ( ITC ) on Inputs, Input Services and Capital Goods which are used in the "course of or furtherance of business" can be claimed.
Just ensure that all the FOUR CONDITIONS as laid down under Section 16(2) of the CGST Act 2017 has been complied with before taking ITC.
Regards,
Shivam RC.
Recent Topics :
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
Related Topics :
CAclubindia
