Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Gst purchase query

varad mudliyar (proprietor) (68 Points)

04 July 2017

Hi all

I am planning to purchase a refrigrator for home . I have GST no. If I buy on my firm name and gave GST no. to seller , will I get any benefit for that ?

Is it necessary on part of buyer to fill any returns for purchase he has made by giving his GST no to seller.

Thank you

Reply
Follow
Share

6 Replies

JITENDRA KUMAR SHARMA (ARTICLE) (213 Points)
Replied 04 July 2017

as you say your buy refrigerator in name of company then you can take itc

Upgrade to CAclubindia Pro. Subscribe Now!

JITENDRA KUMAR SHARMA (ARTICLE) (213 Points)
Replied 04 July 2017

seller file gst return in which show your gstn then you will be mention seller gstn in your return

Rajat Khanna (86 Points)
Replied 04 July 2017

but how can we take ITC for our household expenses. we can take ITC for our business expenses only

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 04 July 2017

Pl refer brochure on input tax credit:

https://www.cbec.gov.in/resources//htdocs-cbec/gst/input-tax-credit-mechanism-onlineversion-07june2017.pdf

satpalmalik.icai@gmail.com (37 Points)
Replied 04 July 2017

No you can't take credit for personal use items
whether taken in name of your firm

Upgrade to CAclubindia Pro. Subscribe Now!

varad mudliyar (proprietor) (68 Points)
Replied 04 July 2017

I think there is valid point in Satpalji's answer.

Since this purchase is for self consumption and not for sale.

But there is thin line between many appliances which are used in industry / office as well ( Even refrigrators are used in canteens / offices /Hospitals and many other business places)

I can term it as business purchase anyway I am paying through My current account.

But it will unnecessarily add more formalitive work for me .

Thanks everyone for your help.