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ITC on capital exp and other exp
will anyone plz tell me can i claim ITC on expenses of capital nature like furniture and fixture and on bag gifted with my orignal prodcuts like sari of rs 5000 or more .
Replies (3)
You can avail the ITC benefits for the "Furniture and Fixtures" if you are using furtherance of business. In Case you use the furniture for construction purpose then you can't claim ITC...
You can't claim ITC for the Gifted bag. If you taken the ITC for the purchase of VAT then you reverse the ITC or collect Tax on the bag...
thank u raja
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