https://www.taxtmi.com/article/detailed?id=10802 Rule 32(5) bars availment of Input Tax Credit only on the purchase of second hand goods under the margin scheme; it does not restrict ITC on input services or capital goods. Therefore, ITC may be claimed on business expenses such as rent, advertisement, commission and professional fees, and on capital goods, subject to the general ITC eligibility and procedural conditions under the GST rules. en-us Fri, 11 Nov 2022 13:36:36 +0530 Fri, 11 Nov 2022 13:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10802 Rule 32(5) bars availment of Input Tax Credit only on the purchase of second hand goods under the margin scheme; it does not restrict ITC on input services or capital goods. Therefore, ITC may be claimed on business expenses such as rent, advertisement, commission and professional fees, and on capital goods, subject to the general ITC eligibility and procedural conditions under the GST rules. Articles Goods and Services Tax - GST Fri, 11 Nov 2022 13:36:36 +0530 https://www.taxtmi.com/article/detailed?id=10802