Eligibility of ITC on COVID 19 related Expenses – Potential Bone of Contention Between Assessee & Department

Eligibility of ITC on COVID 19 related Expenses – Potential Bone of Contention Between Assessee & Department https://www.taxtmi.com/article/detailed?id=9248 Registered persons may claim Input Tax Credit for supplies procured to prevent COVID 19-such as masks, sanitisers, sanitisation services, social distancing apps and hired transport-where those supplies are used or intended to be used in the course or furtherance of business, subject to statutory exclusions and provisos that permit credit when the supply is used for making an outward taxable supply of the same category or when provision is obligatory under law; proper invoicing in the registered entity's name and separate ledger entries are recommended. en-us Mon, 08 Jun 2020 11:16:14 +0530 Mon, 08 Jun 2020 11:16:14 +0530 TaxTMI RSS Generator Eligibility of ITC on COVID 19 related Expenses – Potential Bone of Contention Between Assessee & Department https://www.taxtmi.com/article/detailed?id=9248 Registered persons may claim Input Tax Credit for supplies procured to prevent COVID 19-such as masks, sanitisers, sanitisation services, social distancing apps and hired transport-where those supplies are used or intended to be used in the course or furtherance of business, subject to statutory exclusions and provisos that permit credit when the supply is used for making an outward taxable supply of the same category or when provision is obligatory under law; proper invoicing in the registered entity's name and separate ledger entries are recommended. Articles Goods and Services Tax - GST Mon, 08 Jun 2020 11:16:14 +0530 https://www.taxtmi.com/article/detailed?id=9248