Gst query
Ankit Rikhi (567 Points)
01 June 2018
i buy item A.C bill name firm under gst number.. so i cam claim itc during this purchase.
8 Replies
Surjeet Negi
(947 Points)
Replied 01 June 2018
no...for claiming a ITC you must have tax invoice in your GSTIN
Bibek jaiswal
(Accountant)
(528 Points)
Replied 01 June 2018
If GST is charged in invoice and your firm name and GST number mentioned in bill then you can claim ITC but A.C should be used in business
Vinod Babu
(24191 Points)
Replied 01 June 2018
Itc can be claimed when used for furtherance of business else you cant claim ITC.
As per Section 2(19) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term 'capital goods' means goods, the value of which is capitalized in the books of accountsof the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business.
As per Section 2(19) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term 'capital goods' means goods, the value of which is capitalized in the books of accountsof the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business.
Ankit Rikhi
(567 Points)
Replied 01 June 2018
A.C not used in business then also used in other source..so can i take benefit for other like fixed asset
Surjeet Negi
(947 Points)
Replied 02 June 2018
if the procurement is for personal consumption then credit won't be allowed
Advocate Durgesh Paliwal
(consultant)
(69 Points)
Replied 03 June 2018
if saller issue tax invoice and in tax invoice he mention your firm GSTN in that case you will eligible to take credit
Vinod Babu
(24191 Points)
Replied 04 June 2018
And also should used for furtherance of business in order to claim ITC
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