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ITC of Jewelry item

ITC / Input 686 views 3 replies
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account -GST
1560 Points Posted on 17 July 2019
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
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On 17 July 2019 at 19:14 Report
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61 Points Posted on 17 July 2019
no you can' t take itc of jewellery because it is not use for business purpose.
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On 17 July 2019 at 20:17
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In practice
88 Points Posted on 17 July 2019
ITC is restricted in proportion of the use of the goods for business purpose. Hence not advised to take the credit.
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On 17 July 2019 at 21:02
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Student
23688 Points Posted on 17 July 2019
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.
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On 17 July 2019 at 22:16


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