ITC avail or not?
satish balasaheb jadhav (student) (237 Points)
09 October 2017
If I purchase sweet products and give them to our employee Diwali gift can I take ITC of that .
18 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 10 October 2017
Agreed with Samir...
ITC available only if expenses shown for business purpose.
ITC available only if expenses shown for business purpose.
Putcha Srinivas
(20 Points)
Replied 10 October 2017
Gud Morng Mam, Pl clarify as per sec.17 (5 ) ITC not available on food and beverage. Pl confirm above case
Regards
Regards
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 10 October 2017
Yes if you get ITC on purchase of food & beverage except for trading or restaurant purpose then same is not allowed.
All snacks ,tea & other eatables consumed during business & GST charged on it then you cant claim ITC for same.
All snacks ,tea & other eatables consumed during business & GST charged on it then you cant claim ITC for same.
C R RADHAKRISHNAN
(ACCOUNTANT)
(210 Points)
Replied 10 October 2017
we are having GTA Services provider for TRANSPORTATION OF GOODS LIKE, GODREJ,HINDUSTAN LEVER,ETC., AND ANOTHER ONE SERVICE OF RENTING OF MAHAL @ 18%. IN THE SAME GSTIN NUMBER. KINDLY GIVE WHEATHER WE HAVE TO FILE GSTR 1 FOR BOTH OR ONLY TAXABLE SERVICE.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 October 2017
Dear Mr. C R RADHAKRISHNAN.,
You ll be file both in One GSTIN.......
Your above said way what is the meaning of "ONLY TAXABLE SUPPLY"...?
C R RADHAKRISHNAN
(ACCOUNTANT)
(210 Points)
Replied 10 October 2017
GTA GOES UNDER RCM (i.e we billed godrej e.g 10000/= they pay 5% on rcm and take itc) we are only making bill to 10000/=. CAN WE SHOW THE RCM PROVIDER TO GODEREJ, HINDUSTAN IN GSTR1 AT WHICH COLOUMN.????
AND ANTOTHER SERVICE OF RENTING OF IMMOVABLE WILL BE SHOWN IN B2C .
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 10 October 2017
DETAILS OF RCM NOT TO GIVE IN GSTR-1. SAME IS SHOWN IN GSTR - 2 ONLY.
Vinod Araveti
(Practicing CA)
(1180 Points)
Replied 10 October 2017
Dear Radha Krishnan,
Even GTA service details needs to be given in the GSTR-1 in the B2B supply table and mention that RCM is applicable on that outward supply.
Show the rental service details in the same GSTR-1.
Vinod Araveti
(Practicing CA)
(1180 Points)
Replied 10 October 2017
Dear Radha Krishnan,
Even GTA service details needs to be given in the GSTR-1 in the B2B supply table and mention that RCM is applicable on that outward supply.
Show the rental service details in the same GSTR-1.
Vinod Araveti
(Practicing CA)
(1180 Points)
Replied 10 October 2017
Yes i agree with you that RCM details ( relating purchases ) needs to be given in GSTR-2.
But where as in this case assessee is provding GTA service which liable to GST under RCM basis. This detials needs to be given in GSTR-1
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 October 2017
GSTR 1 : Outward Supplies, Not Inward Supplies....
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