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itc on silver coin

ITC / Input 3361 views 9 replies
sir ITC possible silver coin purchse as a expenses
Replies (9)
Pearls, Diamonds, Gold, Platinum (5) Coin 7118 3%      
Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form HSN CODE 7106 3%      
Base metals, silver or gold, clad with platinum, not further worked than semi-manufactured 7111 3%      
Base metals or silver, clad with gold, not further worked than semi-manufactured 7109 3%      
Base metals clad with silver, not further worked than semi-manufactured 7107 3%      
input tax mil sakta h kya agar expense me dale to
Yes you can take ITC

But Should be furtherance of business
but sir esko konse expense me show kre

what is the expense name it here 

silver coin purchase
What type of business are you doing.

SHOW IN PURCHASES NOT AS EXPENSE 

AND YES CAN BE AVAILED ITC ON IT 

If silver coin is used for trading purpose , then it is treated as purchase not as expense.


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