ITC on Loan Prepayment Charge

JATINDER KUMAR (Accountant) (3662 Points)

21 October 2020

Can I claim ITC on Loan Prepayment charges ?

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5 Replies

yugal jain (197 Points)
Replied 21 October 2020

Yes...if loan is business loan

JATINDER KUMAR (Accountant) (3662 Points)
Replied 21 October 2020

Are you sure

Bhaumik pandya (224 Points)
Replied 21 October 2020

Yes if this is business related expenses then only you can take it for sure.....

Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 22 October 2020

Yes the ITC can be claimed in subject to conditions prescribed in Section 16 of CGST Act

biz (2 Points)
Replied 13 July 2022

Can I claim ITC on Loan Prepayment charges , I have taken Loan Against Property now I want pay prepayment. Can I claim ITC or not.

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