Gst query

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i buy item A.C bill name firm under gst number.. so i cam claim itc during this purchase.
Replies (8)
no...for claiming a ITC you must have tax invoice in your GSTIN
If GST is charged in invoice and your firm name and GST number mentioned in bill then you can claim ITC but A.C should be used in business
Itc can be claimed when used for furtherance of business else you cant claim ITC.

As per Section 2(19) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term 'capital goods' means goods, the value of which is capitalized in the books of accountsof the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business.
A.C not used in business then also used in other source..so can i take benefit for other like fixed asset
Not possible
if the procurement is for personal consumption then credit won't be allowed

if saller issue tax invoice and in tax invoice he mention your firm GSTN in that case you will eligible to take credit

 

And also should used for furtherance of business in order to claim ITC


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