Menu
Is ITC eligible on Books sold to student
School purchased Books, Note book, belt, uniforms etc to provide student. But school collects from student more than the purchase cost. School takes credit on his purchase. is the school eligible to get input credit?
Replies (10)
school can't take credit of any input under gst
school does not sale BOOKS to students.
collecting book fee, belt fee, diary fee etc
I also think that ITC cannot be claimed.
school does 't cover under GST
School registered under GST. sale of old benches, Xerox machine are comes under GST
Tuition fees is exempted hence didn't charge any GST on collecting fees. in that case school can claim ITC
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
