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House keeping materials purchase
whether house keeping material purchase can be eligible for availing input tax credit since it is coming in the purview of employee benefit/staff welfare?
Replies (4)
Quick Summary
Again it should have a valid tax invoice bill from a registered dealer.The dealer must file returns not under a composite dealer.
There are other conditions effective.
There are other conditions effective.
No you cannot avail input , it is a blocked credit under section 17(5)b
House keeping material purchase is not employee benifit/ staff walfare, it's business expenses relating to business,used and to be used for furtherance of business.
So, ITC for same is allowed subject to sec.16 i.e availability of valid Tax invoice, filing return ect.
it's not blocked u/s 17(5)(b)
So, ITC for same is allowed subject to sec.16 i.e availability of valid Tax invoice, filing return ect.
it's not blocked u/s 17(5)(b)
As per the provisions of section 16(1) only condition for availing the input tax credit is that input/input service/capital goods should be used or intended yo be used in the course or furtherance of business. If at the later stage such intention is not fulfilled the ITC claimed shall have to be reversed along with the interest payable as per the the provision of section 50.
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