Itc for recks

vanita modi (cs) (18 Points)

16 January 2020

in case of departmental store can i claim itc of recks. if yes against which head

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 16 January 2020

What is mean recks...?

vanita modi (cs) (18 Points)
Replied 16 January 2020

Like steel furniture

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 16 January 2020

Yes... You can claim ITC for the purchase of racks if You are Regular Dealer...

You can book the racks under Fixed Asset...

vanita modi (cs) (18 Points)
Replied 16 January 2020

Yes i m a regular dealer. but that itc can be adjusted against which products

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 16 January 2020

Which products...?

I can't understand this question...!

You can adjust Your output liability of any sale of goods...

vanita modi (cs) (18 Points)
Replied 16 January 2020

Ok then ...like can adjust from grocery products also

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 16 January 2020

Yes... If it's taxable supply.

Adjust ITC to Output liability. No restriction for adjust to specific goods...

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