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Gst itc on accounting software

ITC / Input 1265 views 11 replies

I Have Purchased tally for my business from registered seller. So, will I get ITC on tally Invoice. 

If Yes then how will I get, as the seller is refusing.

Replies (11)
He showing his gatr1 return the such inv. With gst no.

I know that, but the seller is refusing as he says that tally is not part of my business, so it will not consider in B2B transaction list.

Is he (the seller) is giving TAX INVOICE to you with his GSTIN printed? or he is only giving a non tax invoice? If he gives you non tax invoice you might have to pay GST on RCM.

It is better not to deal with such type of unscrupulous persons. We have too purchased tally but they have issued TAX Invoice. 

That seller is misguiding you. That tally software is being used by you for business purpose only. GST paid on the purchase, will be allowed to you as ITC, if he issues Tax Invoice to you. Even if he is not raising any tax invoice, then you shall pay GST on your own and claim ITC in the next month.

Thanks for your reply..

Also, how will I do the entry in Tally for purchasing Tally. As it will be capital Expenditure or Indirect Exp ??

Capital expenditure

Tally is an application software and not a system sofware or operating system software to qualify the test of capitalisation. Its is pure revenue in nature and cannot be capitalized.

Under which head and how will i do the entry in tally

 

instead of claiming ITC on tally, go for depreciation on tally considering it as a fixed asset. that ll be better option.

All people are troubles with the accounting software so I think to choose something different as you want. I will suggest you for better software is Quickbook. This is best accounting software nowadays. https://quickbooksupports.co/


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