Menu
Input Tax credit available or not
Taxpayer is a textile Merchant. He has purchased a AC & TV(for shop purpose) can he avail GST credit paid on the above purchases?
Replies (4)
Yes he is eligible to take input tax credit. (Simple condition : He is registration under regular dealer).
First you have to check purpose using this thinks than it is business purpose ITC available
If the dealer consider gst component in depreciation in Income tax act than not available
If the dealer consider gst component in depreciation in Income tax act than not available
Yes... The Taxpayer can avail the ITC benefit for the Purchase of AC h TV if it's used in furtherance of business...
u can avail ITC only when depreciation is not charged on such tax component while computing income tax
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
