ITC on furniture

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21 Points Posted on 12 February 2021
can I get ITC on furniture purchased for shop
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On 12 February 2021 at 14:03 Report
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Yes, you can generally claim Input Tax Credit (ITC) on furniture purchased for your business, provided your business is registered under GST. The furniture must be used for the furtherance of business. However, be aware that you cannot claim depreciation on the GST component of the furniture's cost.

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Company Secreatary
3186 Points Posted on 12 February 2021

Yes, if the furniture falls in the definition of goods and supplied to your or you have bought the same for the purpose of furtherance of business you can claim ITC subject to the business should be registered person under GST

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On 12 February 2021 at 14:27
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Chartered Accountant
414 Points Posted on 12 February 2021
Yes u can get credit of ITC on furniture purchased
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On 12 February 2021 at 16:21
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CA Final Student
120 Points Posted on 18 February 2021
Yes you may avail ITC but can't charge depreciation on GST part
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On 18 February 2021 at 15:53

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