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input tax credit
whether a trading company is allowed to take credit on research and development expenses
Replies (9)
In Practical Possible R&D by Trader
this is the case where R&D is not directly related to the goods traded by the company
Yes ,... if it's for furtherance of business
not allowed because input tax credit should be related output tradings
can Claim iTC IF it use for in course of furthrance of bussiness
If it is for your business then you can claim itc.
Yes you can take ITC when used for furtherance of business.
For taking ITC., following should also be satisfied
1. Gst registration should be regular type
2. Invoice bill should bears the company name & Gstin
3. Gst bill should be of B2B(should be reflected in 2A)
For taking ITC., following should also be satisfied
1. Gst registration should be regular type
2. Invoice bill should bears the company name & Gstin
3. Gst bill should be of B2B(should be reflected in 2A)
fully agree with babu
Yes i agreed with Vinod Babu...
He can claim ITC if all conditions is applied.
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