ITC On Wood used for Household Purpose
J.P.V.S vinayak (12 Points)
01 December 2017
Whether an Gst taxpayer can claim input tax credit on Wood purchase for the Household Purpose
6 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 December 2017
No...
Self Consumption and except business using GST Tax not available as ITC...
Self Consumption and except business using GST Tax not available as ITC...
J.P.V.S vinayak
(12 Points)
Replied 01 December 2017
whether it is used for business Purpose can ITC?
Rakesh Sarswath
(Article Student-GST Specialization)
(190 Points)
Replied 01 December 2017
GST charged on inward supplies which are used for personal consumption is not allowed as ITC.
Further, any of the inward supply of goods used for the construction of immovable property shall also not be allowed.
Since these wood purchases, you are using for construction of house you are not allowed.
Please get back in case I am wrong in any part of the interpretation.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 December 2017
(whether it is used for business Purpose can ITC?)
If dealing as business then - Yes...
If you use it Furniture (after convert) then - Yes.
But, You ll be use it as construction purpose then ITC not available...
If dealing as business then - Yes...
If you use it Furniture (after convert) then - Yes.
But, You ll be use it as construction purpose then ITC not available...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 December 2017
You are welcome Dear...
Recent Topics
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
Related Threads
CAclubindia
