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Input Tax credit available or not

ITC / Input 232 views 4 replies
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17 Points Posted on 11 March 2018
Taxpayer is a textile Merchant. He has purchased a AC & TV(for shop purpose) can he avail GST credit paid on the above purchases?
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On 11 March 2018 at 17:56 Report
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Audit Assistant
556 Points Posted on 11 March 2018
Yes he is eligible to take input tax credit. (Simple condition : He is registration under regular dealer).
1 Reply
On 11 March 2018 at 18:09
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Student
92 Points Posted on 11 March 2018
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
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On 11 March 2018 at 18:19
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"Do the Right Thing...!!!"
128147 Points Posted on 11 March 2018
Yes... The Taxpayer can avail the ITC benefit for the Purchase of AC h TV if it's used in furtherance of business...
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On 11 March 2018 at 18:42
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20 Points Posted on 11 March 2018
u can avail ITC only when depreciation is not charged on such tax component while computing income tax
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On 11 March 2018 at 21:40


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