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GST input Eligibility query.....
Mr. X is a docter in government and he received amount as salary , he also have income from youtube channel (adsense), this salary is taxable under the head income from salary in income tax, but his youtube income is taxable under the head income from other sources in income tax, he also purchased some fixed asset for you tube channel, then Mr. X can claim input on such fixed asset?, is any relationship between income chargeble under the different head of income tax and GST input?
Replies (5)
ITC on fixed asset is an eligible input tax credit if it's exclusively related to such You-tube business and not covered under blocked credit. As you-tube channel is not your full time activity, it can be disclosed under Income from other sources. It will not impact your ITC entitlement.
Is x registered under GST?
There is no relation between different heads in Income Tax and supply under GST.
If the person is registered and outward supply is taxable then ITC available if it is for the purpose of business. If there are both taxable and exempt supply proportionate ITC available.
That means he can claim the GST il irrespective of such YouTube income is taxable under the head income from other sources if he is registered under the GST, am i right?
My gst portal detail.chek
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