Claim of Input
This query is : Resolved
17 May 2022
Dear Members
A partnership firm is engaged in manufacturing, of various bakery items, 18 % GST is paid on all the sales. The firm is presently doing expansion of business, hence they have purchased various types of plant and machinery, Kitchen Equipment etc. Is the firm eligible to claim the Input GST, plese clarify.
R S Sai Kumar
A partnership firm is engaged in manufacturing, of various bakery items, 18 % GST is paid on all the sales. The firm is presently doing expansion of business, hence they have purchased various types of plant and machinery, Kitchen Equipment etc. Is the firm eligible to claim the Input GST, plese clarify.
R S Sai Kumar
17 May 2022
Yes you can claim ITC as the assets are used for business purpose.
18 May 2022
for business purposes, any purchase of fixed assets is available for input GST claim. so you can claim it.
19 May 2022
Thanks for the prompt response.
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