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ITC on Indirect Expenses

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29 Points Posted on 15 July 2022
can a business claim itc on tax paid on indirect business expenses?
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On 15 July 2022 at 21:37 Report
Replies (4)
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Chartered Accountant
1996 Points Posted on 15 July 2022
If it is in furtherence of business then you can claim itc
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On 15 July 2022 at 22:36
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GST Practitioner & Accounts
15093 Points Posted on 16 July 2022

In addition to above,
1) You have to fulfill all the conditions in section 16(2) of the CGST act

2) expenses should not be in blocked credit under section 17(5)of the CGST act .

3) ITC should reflect in your GSTR2B .

4) Also Can not ITC if exempt supply

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On 16 July 2022 at 07:23
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Chartered Accountant
86505 Points Posted on 16 July 2022
If expenses are not blocked under Sec 17(5) and business doesn't deals in free goods, then you can claim ITC.
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On 16 July 2022 at 08:29
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915 Points Posted on 17 July 2022
If it is not reflected in gstr 2A ,not allowed ITC claim.If it reflected in gstr 2A,u can claim ITC. Which expensed item add with value of goods and which shows in the profit and loss account as expenses paid.
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On 17 July 2022 at 23:42


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