GST on Mutual Fund
This query is : Resolved
26 May 2022
A Software consultancy Pvt Ltd. Company - Invested money in Mutual Fund. Can it claim GST paid on Mutual Fund purchased as input GST?
27 May 2022
As per my view ITC can not be claimed as GST paid is not related to output supply of company and only for investment purpose.
27 May 2022
Thank you for your reply. One more question, whether Input GST on MF purchased is deductible expenses under Income Tax Act? Is it a Profit and Loss Item?
06 June 2022
Yes, it can be deductible, when income is declared under head PGBP.
Message likes :
1 times
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
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- GSTR9 applicability
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
