Journal entry for purchase of Lens
This query is : Resolved
21 February 2022
Dear All,
Our is a LLP concern. We have purchased Lens for partner from Lensfit Inernational Pvt Ltd billed in the name of LLP. Payment is made by partner from his personal account. Can we claim the ITC for the same and can we take the bill into LLP books of accounts. what will be the expense head for account. Please clarify.
Thanking you.
Our is a LLP concern. We have purchased Lens for partner from Lensfit Inernational Pvt Ltd billed in the name of LLP. Payment is made by partner from his personal account. Can we claim the ITC for the same and can we take the bill into LLP books of accounts. what will be the expense head for account. Please clarify.
Thanking you.
21 February 2022
ITC can't be claimed of personal use lens.
21 February 2022
Yes you cannot atke the ITC of the lens because they cannot be used for the business.
21 February 2022
Thank you, for the reply
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