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regarding ITC

vikas dhyani (accountant) (23 Points)

25 February 2018

Can I get ITC when sale to unregistered dealer?

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4 Replies

Sumit Sarswat (Student) (3154 Points)
Replied 25 February 2018

Yes , you can claim ITC even if your outward supply (i.e. sale ) to a unresisted person.

Alok Sharma (52 Points)
Replied 25 February 2018

Input Tax Credit depends upon the tax charged (Central tax, State tax, Integrated tax or Union Territory tax) to any Registered Person on any supply of goods or services or both used or intended to be used by him in course of his business, not on his supply part.

C R RADHAKRISHNAN (ACCOUNTANT) (210 Points)
Replied 25 February 2018

when purchase of MACHINERRY TOTAL SUM OF RS.66000/=. CAN WE CLAIM ITC OR DEPRECIATION. IF DEPRECIATION CLAIM WHAT TO DO

Sumit Sarswat (Student) (3154 Points)
Replied 25 February 2018

you can claim either ITC or for such ITC amount claim depreciation.
you can't claim both ITC and depreciation at the same time.
If you claim depreciation on total amount of assets (including GST amount ) you have to leave your ITC.