I want to know
is there any input tax credit available for purchasing from "metro cash n carry".
please let me know that circumstances
if purchase made by the above
if used for personal consumtion and
if used for business
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Input tax credit on metro shop purchases
Replies (1)
Credit of goods purchased from 'metro cash n carry' could be taken if the same is used in the course or furtherance of business and it is not blocked under section 17(5).
Therefore, if goods are purchased for personal consumption, then credit is not eligible.
Further, it should be ensured that the invoice has the GSTIN of the recipient to enable him to avail credit when goods are used for business.
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