usiness purpose: The trading option should be used for business purposes, not for personal or investment purposes.
Taxable supply:The option should be related to a taxable supply of goods or services.
Invoice and payment: You should have an invoice and proof of payment for the GST charged on the trading option.
Registration:You should be registered under GST and have a valid GSTIN.
hOWEVER, there are some exceptions and limitations.1.Speculative transactions,ITC is not allowed for speculative transactions like trading in options for speculative purposes.
Non - business purposes: ITC is not allowed if the option is used for non-business purposes.
Blocked credits: ITC may be blocked under certain circumstances, like if the option is related to exempt supplies.
To claim ITC, you should: 1. Maintain records,2.File GSTR-3B, 3.Consult a tax expert.