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Input Tax credit available or not

11 March 2018

Taxpayer is a textile Merchant. He has purchased a AC & TV(for shop purpose) can he avail GST credit paid on the above purchases?

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4 Replies

G Vijaya Kumar (Audit Assistant) (556 Points)
Replied 11 March 2018

Yes he is eligible to take input tax credit. (Simple condition : He is registration under regular dealer).

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Ajmal basha M (Student) (92 Points)
Replied 11 March 2018

First you have to check purpose using this thinks than it is business purpose ITC available

If the dealer consider gst component in depreciation in Income tax act than not available

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 11 March 2018

Yes... The Taxpayer can avail the ITC benefit for the Purchase of AC h TV if it's used in furtherance of business...

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gudla sandeep (20 Points)
Replied 11 March 2018

u can avail ITC only when depreciation is not charged on such tax component while computing income tax

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