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ITC of Jewelry item
my client have proprietorship firm. they purchased some jewellery items. The bill make in firm name. Should we take ITC.? the firm is engaged with commission agent and provide management services
Replies (3)
no you can' t take itc of jewellery because it is not use for business purpose.
ITC is restricted in proportion of the use of the goods for business purpose. Hence not advised to take the credit.
Not eligible to claim ITC since it is not used in the course or furtherance of business...
Refer Section 16(1) of the CGST Act 2017.
Refer Section 16(1) of the CGST Act 2017.
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