Itc of mobile phone
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2018
Dear Sir,I
Whether itc paid on purchase of mobile phone can be adjusted in gst returns. If yes then It would be adjusted in installments or in one shot?
Please clarify.
Whether itc paid on purchase of mobile phone can be adjusted in gst returns. If yes then It would be adjusted in installments or in one shot?
Please clarify.
02 April 2018
ITC is available only if purchase is made for the purpose of business.
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2018
can be claim whole amount or in instalments?
02 August 2024
Under GST, the Input Tax Credit (ITC) on mobile phones can be claimed, but there are specific rules and limitations to consider. Here's how it works:
### **1. Eligibility for ITC on Mobile Phones**
- **ITC Eligibility:**
- **Mobile Phones:** Generally, ITC is available for mobile phones, as they are considered capital goods. However, there are certain conditions and restrictions.
- **Restrictions:**
- **Section 17(5) of the CGST Act, 2017** specifies certain restrictions on claiming ITC, including ITC on motor vehicles, and mobile phones are not explicitly listed here. This means ITC on mobile phones should generally be available.
### **2. Claiming ITC**
- **One-Time Claim or Installments:**
- **ITC can be claimed in one shot** in the month when the invoice is recorded in your books of accounts, provided that the mobile phone is used for business purposes and you have a valid tax invoice.
- There is no requirement to adjust ITC on mobile phones in installments; you can claim the full amount in the GST return of the month in which the mobile phone is purchased and the tax invoice is recorded.
### **3. Filing GST Returns**
- **GSTR-3B:**
- Claim ITC in **GSTR-3B** for the month in which the invoice is recorded.
- Ensure that the purchase is reflected in your GST records and is supported by a valid tax invoice.
### **4. Compliance and Documentation**
- **Tax Invoice:**
- Ensure you have a valid tax invoice from the supplier showing the GST amount.
- **Record Keeping:**
- Maintain proper records and documentation to substantiate your ITC claim in case of an audit.
### **Summary:**
Yes, ITC paid on the purchase of mobile phones can be claimed in your GST returns. You can claim the whole amount in one shot in the month when the invoice is recorded in your books. There is no requirement to claim it in installments.
Ensure you have proper documentation and that the mobile phones are used for business purposes to be eligible for claiming ITC. For specific guidance, consulting with a tax professional or GST consultant is advisable.
### **1. Eligibility for ITC on Mobile Phones**
- **ITC Eligibility:**
- **Mobile Phones:** Generally, ITC is available for mobile phones, as they are considered capital goods. However, there are certain conditions and restrictions.
- **Restrictions:**
- **Section 17(5) of the CGST Act, 2017** specifies certain restrictions on claiming ITC, including ITC on motor vehicles, and mobile phones are not explicitly listed here. This means ITC on mobile phones should generally be available.
### **2. Claiming ITC**
- **One-Time Claim or Installments:**
- **ITC can be claimed in one shot** in the month when the invoice is recorded in your books of accounts, provided that the mobile phone is used for business purposes and you have a valid tax invoice.
- There is no requirement to adjust ITC on mobile phones in installments; you can claim the full amount in the GST return of the month in which the mobile phone is purchased and the tax invoice is recorded.
### **3. Filing GST Returns**
- **GSTR-3B:**
- Claim ITC in **GSTR-3B** for the month in which the invoice is recorded.
- Ensure that the purchase is reflected in your GST records and is supported by a valid tax invoice.
### **4. Compliance and Documentation**
- **Tax Invoice:**
- Ensure you have a valid tax invoice from the supplier showing the GST amount.
- **Record Keeping:**
- Maintain proper records and documentation to substantiate your ITC claim in case of an audit.
### **Summary:**
Yes, ITC paid on the purchase of mobile phones can be claimed in your GST returns. You can claim the whole amount in one shot in the month when the invoice is recorded in your books. There is no requirement to claim it in installments.
Ensure you have proper documentation and that the mobile phones are used for business purposes to be eligible for claiming ITC. For specific guidance, consulting with a tax professional or GST consultant is advisable.
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