According to the provisions of blocked credit , the when goods are used for personal purpose , complete ITC is not allowed on it.
But according to s.17(1),when capital goods are purchased and used for business and non-business purpose , proportionate ITC shall be allowed Aren't they contradicting or Is my view incorrect?
Menu
BLOCKED CREDIT VS S. 17(1)
Replies (4)
proportionate ITC is allowed
ITC is not allowed for goods / services for personal
in both sections , input of goods / services used for the personal nature = NOT ALLOWED
Thank you
welcome !
Recent Threads
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
- SAC code and GST rate transport services for anima
- Section 44AB is Gone — How Different is Tax
Related Threads
CAclubindia
