ITC eligible
Ajay Prajapati (512 Points)
10 October 2017
can we eligible for ITC on phone bill (operator registered ) for business use ?
7 Replies
Sujit Saha
(243 Points)
Replied 10 October 2017
If you are not a composite or unregistered dealer, than ITC available
Ajay Prajapati
(512 Points)
Replied 10 October 2017
can we get ITC on capital goods like machiernery and tools ?
Vinod Araveti
(Practicing CA)
(1180 Points)
Replied 10 October 2017
Yes Credit can be claimed on Plant and machinery also if it is used for business purpose. 100% credit can be claimed in the intial year itself
Sujit Saha
(243 Points)
Replied 10 October 2017
If you are dealing in plant and machinery than ITC available
Vinod Araveti
(Practicing CA)
(1180 Points)
Replied 10 October 2017
It's not required that he has to sale the plant and machinery. If he uses that P&M for any taxable supply then also he can avail the credit.
Sujit Saha
(243 Points)
Replied 10 October 2017
Yes ITC can be claimed in the initial year, as p&m r using for businesses purpose
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