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How to take Credit
Company allow cash to member for phone purchase a fix amount 7000/- but employees purchase his name and amount by 10000/-then how to take gst credit on account becauae company pay 7000 and bill amount 10000 and employees name
Replies (5)
the company not get ITC. if phone purchase with name of company in that case Company also not get ITC
why not get itc if purchase name of company?
If the bill bears gstin and company name, then ITC can be claimed.
ITC can be claimed only when input/input services are used for business. And for claiming ITC, invoice should be in the name of company along vd the company's GSTIN mentioned on it
No company cannot take ITC because
an invoice issued by the supplier of goods should be accordance to the provisions of section 31;
Mean , invoice should be in the co. name & the GSTN of Co. should be mention therein
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