Input Tax Credit Query

This query is : Resolved

Zubz World (Querist)
Follow

23 December 2020 Hi...
I am new to this GST working and need an advise on it.
Actually i am opening medical and convenience shop which would be operational in 1 or 2 months. It's on proprietorship.

So for the same if I have to purchase Ac , Computers , accessories I will pay GST on it. So can I utilize this as Input Tax Credit ??
If yes than for how much time the claim would be valid...?

My Shop Current Account is not yet opened and I will pay for purchases from my Saving Account. (Single Name)

Thanks in advance
Zubin

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

23 December 2020 You purchase computers etc for the furtherance of business and the invoice will be in your name and indicating your GST number - you can utilize the credit till October of next year.

For purchase in Dec 2020 - you can utilize credit with Sep 2021 GSTR 3B due in Oct 2021