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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
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