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