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REGARDING ITC ON MERCHANT SHARE FEE EXPENSE.

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(Querist)
03 February 2021 CAN ITC BE CLAIMED OF MERCHANT SHARE FEE EXPENSE PAID TO BHARAT PETRO CORPORATION LTD.??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 February 2021 Yes, ITC can be claimed if it's related to business promotion.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
03 February 2021 No, as same is used for petroleum which is non GST Supply. Read Sec 17(3) which provide for disallowance of supplies used for non Gst supply.
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