Filed for LUT Can I Still Claim ITC ?

[Siddharth Shukla]

We are a Partnership firm. Our Income source is Youtube Adsense Revenue from Youtube which is received from Google Ireland. Upon Research I found out about LUT since I can show earnings from my videos as earnings from ZERO RATED SUPPLIES and thus have to pay no GST. However Can I claim ITC for purchases like laptops, electronics for my firm ? My CA says since I have no Output GST paid, I cannot claim any ITC, But in Zero Rated supplies it is stated that I can claim ITC even tho I do not have to pay GST.

Please help me out here ? Any expert assistance on this matter in highly appreciated.

AI Summary

Navigating GST Input Tax Credit for International YouTube AdSense Revenue Under LUT Regime with Comprehensive Documentation Compliance A partnership firm receiving YouTube AdSense revenue from an international source explores GST implications for Input Tax Credit (ITC) under a Letter of Undertaking (LUT). Despite earning from zero-rated supplies, the firm can claim ITC on purchases like laptops and electronics. Key requirements include maintaining proper documentation, issuing a GST tax invoice, and following specific procedural guidelines for export of services.