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Gst itc claim for tax free goods dealer ?

ITC / Input 173 views 1 replies

Respected Friends,

Our dealer is dealing in Tax Free Goods. For regular business purpose, he has purchased Computer for say 100 Rs. + GST at applicable rates.

Now, at the time of Income Tax Audit feeding,

(1) how to show this computer purchase under Fixed Assets head ? Whether to show at the Gross Value i.e. Cost+GST or only Cost.

(2) How to claim refund for excess ITC available in Set-Off section ?

Pl help.

T & R

K P Bhanushali

Replies (1)
whether a person is registered or not if he supplies exempt good shall not be eligible to claim itc as per section 17
thereafter Cost of assets shall be value+itc and dep. shall be claimed thereafter


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