Ineligible ITC treatment view of IT (Books)

Fareed (Accountant) (90 Points)

17 November 2021

Shall we claim GST Ineligible Input tax credit portion as expenses (IT) in our books, Is it allowable.

If any notification regarding this , please share the details.

Thanks & Regards

Fareed

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178215 Points)
Replied 17 November 2021

Yes, if you can recover it, it should be transferred to P&L acc. No need of any notification.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178215 Points)
Replied 17 November 2021

Typing Error, Read as ::

Yes, if you cannot recover it, it should be transferred to P&L acc. No need of any notification.

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 17 November 2021

Yes you can

Fareed (Accountant) (90 Points)
Replied 17 November 2021

thanks for your guidance....

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