GST input Eligibility query.....
Ajnas (Student) (844 Points)
08 July 2021Ajnas (Student) (844 Points)
08 July 2021
Deepa B
(Practicing Chartered Accountant )
(573 Points)
Replied 09 July 2021
ITC on fixed asset is an eligible input tax credit if it's exclusively related to such You-tube business and not covered under blocked credit. As you-tube channel is not your full time activity, it can be disclosed under Income from other sources. It will not impact your ITC entitlement.
CA Altamush Zafar
(GST Consultant)
(15983 Points)
Replied 09 July 2021
There is no relation between different heads in Income Tax and supply under GST.
If the person is registered and outward supply is taxable then ITC available if it is for the purpose of business. If there are both taxable and exempt supply proportionate ITC available.
Ajnas
(Student)
(844 Points)
Replied 09 July 2021