Itc to be claim or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2018 Dear Sir / Madam,

i am registered under Regular Scheme , recently i have buy a i phone for Rs 89000/-, i have take a invoice in my trade name by mentioning GST number on the invoice, whether i am eligible to Take ITC on the invoice or not .please guide me .

thanks in advance.

CA Jyoti singh

CA Jyoti singh (Expert)
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16 May 2018 GST Law clearly allows the taxpayer to take credit of supplies taken in the course of business or in furtherance of business. Mobile phone bought by the company are eligible for input tax credit provided the seller of the mobile phone has stated the company's name on the invoice.

Thus you are eligible to take ITC on your IPhone.

RAJA P M

RAJA P M (Expert)
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16 May 2018 No...
ITC not available for the Purchase of Mobile Phone if it's own use.

Where the goods or services or both are used by the registered person partly for the purpose of any business and partly for other purposes, the amount of credit shall be restricted to so much of the input tax as is attributable to the purposes of his business...

*** The mobile phone is not fully used in the business and also it's own used then no way for ITC.

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CA Jyoti singh

CA Jyoti singh (Expert)
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16 May 2018 Ok sir, Suppose we have provided the cell phones to our employees for business purposes. They are making use of it for their personal purpose too.

Would you deny the ITC simply for the reason that they have made some personal calls??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 May 2018 ITC is allowed if the assets is used in the course or furtherance of business. If the asset is used partly for business and partly for personal use, then as per the Act, the amount of ITC attributable to personal or exempt use should be reversed.

CA Jyoti singh

CA Jyoti singh (Expert)
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18 May 2018 Same is my opinion Mr. Siddharta...ITC shall be allowed if used for business purpose...

RAJA P M

RAJA P M (Expert)
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18 May 2018 Dear Mam.,
I agreed the above opinion and View....
I also the same view....

As per Our one of the fellow expert Mr. CA Siddhartha Bhardwaj correctly stated as
"ITC is allowed if the assets is used in the course or furtherance of business - Note the ASSETS" &

"If the asset is used partly for business and partly for personal use, then as per the Act, the amount of ITC attributable to personal or exempt use should be reversed"

Here note the personal use....

How can we segregate the uses of Business and Personal without any questions...?