input tax credit
vijay c sajjan (5 Points)
08 January 2019
whether a trading company is allowed to take credit on research and development expenses
9 Replies
vijay c sajjan
(5 Points)
Replied 08 January 2019
this is the case where R&D is not directly related to the goods traded by the company
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 08 January 2019
Yes ,... if it's for furtherance of business
Ashish Kumar
(40 Points)
Replied 08 January 2019
not allowed because input tax credit should be related output tradings
Sanjiv Rajpoot
(3430 Points)
Replied 08 January 2019
can Claim iTC IF it use for in course of furthrance of bussiness
pritesh
(CA Final student)
(7101 Points)
Replied 09 January 2019
If it is for your business then you can claim itc.
Vinod Babu
(24196 Points)
Replied 09 January 2019
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)
Rahul Katole
(PRACTITIONER & FINANCE BLOGGER)
(123 Points)
Replied 09 January 2019
Yes i agreed with Vinod Babu...
He can claim ITC if all conditions is applied.
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