Input tax credit on expenses.
manju mogri (62 Points)
12 December 2017
I'm a vehicle dealer if I paid GST on administrative expenses incurred by me is ITC is available for me....????
5 Replies
CA Anant Tyagi
(CA)
(283 Points)
Replied 12 December 2017
You may claim the benefit of tax paid on administrative expenses incurred by you provided it should be related to your business or
furtherance of business.
There is no bar in availing benefiit of such credit.
Further, you need more clarification, please call at 8377064203, 8527062521
Regards
manju mogri
(62 Points)
Replied 12 December 2017
Sir, whatever I incurred expenses this is related to my business only.....,
manju mogri
(62 Points)
Replied 12 December 2017
Sir one more thing, assume I'm a vehicle dealer & I have purchased Guest house furniture is ITC is available to me...???
CA Anant Tyagi
(CA)
(283 Points)
Replied 12 December 2017
Whether guest house furniture is related to your business activity??
If you purchase furniture for business premises, you will definitely get the credit of that furniture.
However, if you claim depreciation on the GST paid while purchasing the furniture, you cannot claim input tax credit.
Regards
manju mogri
(62 Points)
Replied 12 December 2017
Yes sir for business activity only I have purchased guest house furniture....,,
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
