Dear All
I want to know that what is the provision of cash purchase machinery by under gst act
can get ITC of cash purchsae machinery and what is the process
2 Replies
Balaji Ramalingam
(Student - CA Final)
(285 Points)
Replied 19 September 2018
Yes you can claim ITC even for cash subject to the provisions of section 16(1) which is noting but conditions for claiming ITC. Dude but it may attract disallowance in view of Income Tax.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 19 September 2018
Yes... I agreed to Mr Balaji Ramalingam.,
No more limit under GST act...
But, It's restricted under IT act...
Better to perform all the rule which applicable Your business and it's activity.
No more limit under GST act...
But, It's restricted under IT act...
Better to perform all the rule which applicable Your business and it's activity.
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