ITC claim on trust

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1 Points Posted on 21 April 2021
How a trust can be claim ITC
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On 21 April 2021 at 11:25 Report
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This discussion clarifies how trusts can claim Input Tax Credit (ITC) under GST. It explains that ITC is generally claimable on taxable outward supplies. However, if a trust's services are exempt from GST, ITC cannot be claimed. For trusts providing both taxable and exempt supplies, ITC is allowed proportionally.

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1011 Points Posted on 21 April 2021
Very vague question
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On 21 April 2021 at 11:51
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Chartered Accountant
24588 Points Posted on 21 April 2021
ITC can be claimed
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On 21 April 2021 at 12:43
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Practice
3235 Points Posted on 21 April 2021
There are certain criteria for a charitable trust or an NGO to be exempted from the Goods and Services Tax.
If trust is providing service which is taxable under GST then they can claim ITC on such taxable outward supply and in case if exempted then No ITC, if providing both taxable and Exempt then proportionally allowed.
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On 21 April 2021 at 17:22

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