Claim of ITC by a Commercial Photographer

[Rajan Atrawalkar]

Can a commercial photographer avail ITC of Camera, Lighting System, Computer, Electronic display boards even though they are capitalized? Is there any way out to claim ITC on the same? These are the only inputs used by him in the course of furtherance of business.

AI Summary

Photographer's Input Tax Credit Eligibility on Capital Goods under GST: Section 18(1) Clarifies Conditions and Conflicts with Income Tax Laws. A commercial photographer inquired about the eligibility to claim Input Tax Credit (ITC) on capitalized items like cameras and lighting systems under GST. Responses clarified that ITC can be claimed if the GST is not capitalized along with the goods' value in the books. Section 18(1)(a) and (b) allows ITC on inputs held in stock at registration but excludes capital goods. ITC on capital goods is only available if procured post-registration. Discussions also highlighted potential conflicts with income tax laws if capital goods are not capitalized to claim ITC.