Bank charges and testing charges and personal purchases as per AIS data
This query is : Resolved
16 July 2022
sir,
A Gst registered jewellery business dealer bank charges and testing service charges(hall mark charges) and personal purchases rs:35510/- show in AIS INFORMATION in f.y.21-22
Question:
Assesee above mentioned rs:35510/- amount business expenses or goods purchases added or debited to capital account treated income tax purposes.
A Gst registered jewellery business dealer bank charges and testing service charges(hall mark charges) and personal purchases rs:35510/- show in AIS INFORMATION in f.y.21-22
Question:
Assesee above mentioned rs:35510/- amount business expenses or goods purchases added or debited to capital account treated income tax purposes.
16 July 2022
Yes, it the expenses are personal nature, it can be debited to capital account. If ITC is availed, it has to be reverted back.
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