GST - ITC Clame???

Purchased : - Home Theater (2.1) + Smart T.v. (44 Inch) + Samsang Mobile = Rs.45,000.00 (Including GST)

The Invoice was raised in Business Name (Not By Person Name) Eg. XYZ.Ltd (Not By Mr.Ram).

Can I Claim ITC on Them and can show thiss items under Fixed Assets in Book.????

Replies (5)
Quick Summary
This discussion explores whether Input Tax Credit (ITC) can be claimed on purchases like a home theatre, smart TV, and mobile phone, when the invoice is in the business's name. The general consensus is that ITC is not claimable if these items are used for personal purposes rather than for the furtherance of business. It also touches on whether these items can be classified as fixed assets.

If it is used for other than the purpose of furtherance of business, no ITC can be available.

No ITC can be claimed if it is used for personal use

No ITC cannot be claimed

No ITC cannot be claimed if it is used for personal use

 

Yes ...

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