ITC on Security Service received by Co-operative Society

ITC / Input 268 views 1 replies
User Avatar

SR. EXECUTIVE - ACCOUNTS & LOGISTICS
30 Points Joined May 2015

We are Co-operative Society registered under GST. We are issuing GST Invoice and paying monthly GST for Advertisement boards income. 

We are receiving GST Invoice for Security service availed by the society in general.

Can we claim GST ITC on security service Invoice ?

Pratik Padhiyar

0 Reply Share Follow
On 28 February 2025 at 15:18 Report
Replies (1)
User Avatar

Master in Accounts & high court Advocate
9447 Points Joined December 2011

As a Co-operative Society registered under GST, you can claim Input Tax Credit (ITC) on the security service invoice, but there are certain conditions to be met:

Eligibility for ITC: - *Input Service*: Security services are considered input services for a Co-operative Society.

- *Used for Business Purpose*: The security services must be used for the purpose of your business, i.e., managing the society. -

*GST Invoice*: You must have a valid GST invoice from the security service provider. Conditions for ITC Claim:

- *Invoice Date: The invoice date must be within the relevant financial year. -

Payment*: You must have paid the security service provider. - *GST Return*: You must have filed the GST return (GSTR-3B) for the relevant tax period. Restrictions on ITC Claim: -

 *Block Credit*: Certain services, including security services, may be subject to block credit restrictions (Section 17(5) of the CGST Act). -

 *Exempt Supplies*: If the security services are used for exempt supplies (e.g., residential flats), you cannot claim ITC. To claim ITC on the security service invoice:

1. *Verify the invoice*: Ensure the invoice is valid, contains all required details, and is within the relevant financial year.

2. *Check payment*: Confirm that you have paid the security service provider.

3. *File GST return*: Ensure you have filed the GST return (GSTR-3B) for the relevant tax period.

4. *Claim ITC*: Claim the ITC in your GST return (GSTR-3B) for the relevant tax period. 

Reply
On 28 February 2025 at 17:42


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading