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 Topics :
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
Related Topics :
CAclubindia
