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Input Credit
Can we take input credit on Expenses?
Replies (4)
we can claim input tax on all business related expenses except on construction works
Yes... You can claim ITC for the expense which is in Business activities...
What entry should be passed in tally for Computer repair & maintenance....
Whether expense should be booked or purchase entry should be passed??
Whether expense should be booked or purchase entry should be passed??
In Tally You can book the expense in Journal entry...
Dr. The Expense Head - XXXX
Dr. Input Tax - XXXX
Cr. Supplier Name - XXXX.
Dr. The Expense Head - XXXX
Dr. Input Tax - XXXX
Cr. Supplier Name - XXXX.
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