Chemical and Appratus
This query is : Resolved
25 December 2024
Our buying and selling poultry product is taxable.
We are setup a laboratory for poultry animal testing purpose. This laboratory service rendering to farmer iby us is free of cost. Also appointed veterinary Doctor for giving free advice to poultry rearing farmers. ( Our selling feed supplement product is taxable ).
My question is when we are buying laboratory materials like as chemical, apparatus lab machinery
Can we are eligible to take input on above purchases
For giving free services to farmers their mind is persuade to buy our feed supplement product.
Please advice,
We are setup a laboratory for poultry animal testing purpose. This laboratory service rendering to farmer iby us is free of cost. Also appointed veterinary Doctor for giving free advice to poultry rearing farmers. ( Our selling feed supplement product is taxable ).
My question is when we are buying laboratory materials like as chemical, apparatus lab machinery
Can we are eligible to take input on above purchases
For giving free services to farmers their mind is persuade to buy our feed supplement product.
Please advice,
25 December 2024
Yes, it is part & parcel of your business marketing strategy, hence ITC can be availed.
25 December 2024
But sir, we are giving free service, and no gst is charged on revenue side. Even though can ITC avail?
25 December 2024
If you consider it as a separate supply which is free, you cannot claim ITC. But consider it as marketing cost and not service, because based on the facility you are selling your product. In that case you will be able to claim ITC.
26 December 2024
Presently we are debiting expenses to Laboratory expenses. Can we amend the expenses as marketing or sales promotion exp. So that we can avail input.
What we do consider as marketing cost
What we do consider as marketing cost
26 December 2024
Create a sub-group under sales promotion expenditures:: the laboratory expenses.
26 December 2024
Ok Thanks sir धन्यवाद
26 December 2024
You are welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Voluntary gst tax given in DRC FORM 3 US 122 AND US125
- Chemical and Appratus
- Query regarding table 17 of GSTR9
- New Time limit for gst assessment for fy 2017-2018,2018-2019,2019-2020,2020-2021
- TDS deduction requirement
- Reg Correction Form 15CB & 15CA
- TDS deposited by party after the filing of income tax returns
- Gstr9 fy23-24
- Pre-deposit @20%- appeal proceedings
- Rebate u/s 87a on STCG / LTCG - New tax regime
- Table 12 of GSTR9C-FY 2023-24
- Loan by an NBFC Company to another Company with Common Directors
- Query regarding on GST
- Specified Time limit for gst assessment for fy 2017-2018,2018-2019,2019-2020,2020-2021
- 8C of gstr9
- Regarding the Demand Raised in TAN due to inoperative PAN.
- ITC IN AMMENDED INVOICE IN GSTR9 2023-24
- Unclaimed ITC relates to FY2023-24 reclaimed in October-2024 but failed to reverse the same
- Rule 42 Calculation
- Fixed assets to be expensed out resulting nil value
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
