Menu
ITC on purchase of Gold shown as investment
Can we take ITC of GST charged on gold. As the credit is reflecting on GST portal
Replies (1)
Dear Mr Vaibhav,
The ITC shall be allowed only if the goods & services are used for the furtherance of business. In your case, gold purchase for investment are not used for the furtherance of business, therefor ITC shall not be allowed on it.
Recent Threads
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
Related Threads
CAclubindia
