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Itc on gold purchase
can we take itc on purchase of gold
Replies (4)
s u can
if reflect in ur 2A
if reflect in ur 2A
For what purpose have you purchased it ???
gold brought for personal
Then you cannot claim ITC on Gold.
According to the Provision of Section 16(1) of the CGST Act 2017, ITC can be claimed only on those expenses which are in the course or furtherance of business.
Since you have purchased gold for Personal Consumption, you cannot claim ITC.
Warm Regards.
According to the Provision of Section 16(1) of the CGST Act 2017, ITC can be claimed only on those expenses which are in the course or furtherance of business.
Since you have purchased gold for Personal Consumption, you cannot claim ITC.
Warm Regards.
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