Is ITC eligible on Books sold to student

ITC / Input 546 views 10 replies
User Avatar

Exceutive Accountant
85 Points Joined July 2009
School purchased Books, Note book, belt, uniforms etc to provide student. But school collects from student more than the purchase cost. School takes credit on his purchase. is the school eligible to get input credit?
0 Reply Share Follow
On 09 July 2018 at 16:22 Report
Replies (10)
User Avatar

Chartered Accountant
12739 Points Joined December 2016

school can't take credit of any input under gst 

1 Reply
On 09 July 2018 at 16:33
User Avatar

123 Points Joined June 2018
school does not sale BOOKS to students.
1 Reply
On 09 July 2018 at 22:01
User Avatar

Exceutive Accountant
85 Points Joined July 2009
collecting book fee, belt fee, diary fee etc
Reply
On 09 July 2018 at 22:38
User Avatar

24196 Points Joined May 2018
I also think that ITC cannot be claimed.
1 Reply
On 09 July 2018 at 22:56
User Avatar

123 Points Joined June 2018
school does 't cover under GST
1 Reply
On 10 July 2018 at 07:05
Guest
Whether the school is registered and charging GST on sale?
Reply
On 10 July 2018 at 08:09
User Avatar

Exceutive Accountant
85 Points Joined July 2009
School registered under GST. sale of old benches, Xerox machine are comes under GST
Reply
On 10 July 2018 at 09:55
Guest
Then yes, the school can claim credit of tax paid on books purchased and sold to students by charging GST.
Reply
On 10 July 2018 at 10:00
User Avatar

Exceutive Accountant
85 Points Joined July 2009
Tuition fees is exempted hence didn't charge any GST on collecting fees. in that case school can claim ITC
Reply
On 10 July 2018 at 10:20
Guest
You mean the tuition fee is inclusive of the books price. Then, no you cannot claim credit if you're not charging or cannot charge GST.
Reply
On 10 July 2018 at 10:57


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading