ITC On goods purchased for personal use as well as business use.
Tejpal Jain (197 Points)
05 July 2018Tejpal Jain (197 Points)
05 July 2018
RAJA P M
("Do the Right Thing...!!!")
(127153 Points)
Replied 05 July 2018
CA Shanky garg
(Practicing Chartered Accountant)
(217 Points)
Replied 05 July 2018
Yes, ITC is available on Goods purchased for both business and personal purpose. But, For personal Use - 5% reversal is required to be done.
dinesh
(INTERNAL AUDITOR)
(46 Points)
Replied 06 July 2018
CA Shanky garg
(Practicing Chartered Accountant)
(217 Points)
Replied 06 July 2018
Please refer GST Provisions w.r.t Common Credit. Proportionate ITC will be available for above mentioned case.
Vinod Babu
(24191 Points)
Replied 06 July 2018
Manish Soni
(Officer Accounts)
(22 Points)
Replied 07 July 2018
ITC is availbale for business purpose, cases where sevices or material procured for exlusively for personal purpose,ITC is not available
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