Gst ITC Blocked Credit

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Proprietor
186 Points Posted on 19 October 2020
Mr X purchased a AC on GSTIN for using in the business showroom of FMCG products.
As it is for business purposes Can we claim Itc and keep it outside the Purview of BLOCK credit?
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On 19 October 2020 at 22:49 Report
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Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on an air conditioner purchased for a business showroom. The consensus is that ITC is claimable for assets used directly in business operations, even if they are capital assets. Therefore, the credit on the AC for the FMCG showroom is eligible and falls outside the purview of blocked credit.

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Accountant
3662 Points Posted on 19 October 2020
Yes, you can claim ITC
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On 19 October 2020 at 23:40
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197 Points Posted on 19 October 2020
Yes you can claim the credit on capital assets
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On 19 October 2020 at 23:40

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