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ITC eligible

ITC / Input 227 views 7 replies
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512 Points Posted on 10 October 2017
can we eligible for ITC on phone bill (operator registered ) for business use ?
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On 10 October 2017 at 21:45 Report
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Student
120 Points Posted on 10 October 2017
Yes itc available
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On 10 October 2017 at 22:28
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243 Points Posted on 10 October 2017
If you are not a composite or unregistered dealer, than ITC available
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On 10 October 2017 at 22:32
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512 Points Posted on 10 October 2017
can we get ITC on capital goods like machiernery and tools ?
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On 10 October 2017 at 22:33
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Practicing CA
1180 Points Posted on 10 October 2017

Yes Credit can be claimed on Plant and machinery also if it is used for business purpose. 100% credit can be claimed in the intial year itself

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On 10 October 2017 at 22:45
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243 Points Posted on 10 October 2017
If you are dealing in plant and machinery than ITC available
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On 10 October 2017 at 22:54
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Practicing CA
1180 Points Posted on 10 October 2017

It's not required that he has to sale the plant and machinery. If he uses that P&M for any taxable supply then also he can avail the credit.

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On 10 October 2017 at 23:01
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243 Points Posted on 10 October 2017
Yes ITC can be claimed in the initial year, as p&m r using for businesses purpose
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On 10 October 2017 at 23:34


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