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ITC RELATED

KISHOR CHANDRA NAYAK (MANAGER) (29 Points)

15 April 2020

I purchased floor mat for my showroom can I claim ITC in Gstr 3B

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7 Replies

ankush soni (student) (100 Points)
Replied 15 April 2020

It's not covered in stock in trade and you are not going to sell it hence can't use the itc.

KISHOR CHANDRA NAYAK (MANAGER) (29 Points)
Replied 15 April 2020

But the retailer uploaded invice in gstr1

1 Like

ankush soni (student) (100 Points)
Replied 15 April 2020

Dear you have purchased the item in your firm name giving him your gstn hence your supplier has genuinely entered the same in his return. now after receiving the item you had used it for personal use. so you cannot use the itc available on it.

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KISHOR CHANDRA NAYAK (MANAGER) (29 Points)
Replied 15 April 2020

Thank u

CA Sachin M Jain (CA | GST | Refunds | Advisory | Litigation) (1313 Points)
Replied 15 April 2020

Registered taxpayer can Claim ITC of Gst paid on inward supplies if he intends to use for the purpose of business and he has given the GSTIN at the time of purchase.

Further clarification contact - CA SACHIN M JAIN | 8097515447 | casachinmjain @ gmail.com

RAJA P M ("Do the Right Thing...!!!") (127262 Points)
Replied 15 April 2020

@ Mr KISHOR CHANDRA.,

You can claim ITC for the purchase of Floor Mat which is used in Your business place (showroom).

1 Like

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 15 April 2020

Yes any expense in course of business or furtherance of business , the ITC can be claimed , Subject to conditions that Not prescribed in Section 17(5) of CGST Act .

So Agree with Mr. Raja Ji , you can claim ITC