we are a pvt ltd company and we have a chit in the name of company on the withdrawl of chit GST at 12% is charged by the foreman and it is available in our GSTR2
can we avail the ITC on it
Thanks
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ITC availibility on Chit Fund Charges
Replies (4)
yes you can avail if your GST no mentioned
Yes , the commission paid to Chit fund Foremen , GST is applicable & U can avail ITC for the same
Yes. Can avail ITC.
No. Since profit/ income earned through chit is not subject to gst, you can't avail ITC on expenses made against it.
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