logo T a x - L o k
A Complete Solution of All Your Tax Problems
Developed by Prakhar Softech Services Ltd.
(In Association with Shanti Prime Publication Pvt. Ltd.)
Call Us 09001929869
Call Us Shopping Bag (0)
  • follow us on facebook
  • follow us on twitter
  • follow us on google plus
  • follow us on linkedin
  • follow us on pinterest
  • rss fee
  • Visitors 
  • 0
  • 8
  • 1
  • 6
  • 5
  • 9
  • 3
News :
News
Sub
Loding Content
Submit a Query
  Refresh
   Verification Code
View Orders
show products
FB Followers
What is New
Finance Bill 2018-19
Budget Speech 2018-19
Query Answer
go to back

DEAR SIR, 

1 ONE OF MY CLINET PURCHASE AIR CONDITIONER OR AIR COOLER FOR  PRINCIPAL BUSINESS PLACE CAN WE TAKE ITC OR NOT ?

2 ONE OF MY CLIENT REGULAR DEALER IN VAT LAW AND HE HAD SOME ITC. THEN HE IS CONVERT IN COMPOSITION SCHEME IN GST. NOW AGAIN IN MONTH OF OCTOBER HE IS  CONVERT AS REGULER DEALER CAN I CLAIM MY VAT ITC OR NOT IF YES THEN HOW .

Reply

Dear Sir,

(1) As per Rule 43 of CGST Rules, 2018,  the amount of input tax in respect of capital goods used or intended to be used exclusively for effecting        supplies other than exempted supplies but including zero-rated supplies shall be indicated in FORM GSTR-2 and shall be credited to the electronic credit ledger. 

Thus as per above rule, if your client is engaged in taxable supplies, and has purchased the Air conditioner or Air cooler exclusively for business purpose,  the GST paid can be claimed as credit in the same way as inputs.

(2) As the last date to file TRAN-1 has been elapsed, now it is not possible to claim ITC of VAT period. 

go to back