TaxTMI 
TaxTMI 
Eligibility of ITC
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....ligibility of ITC<br> Query (Issue) Started By: - Manoj Kumar Dated:- 6-5-2018 Last Reply Date:- 8-5-2018 Goods and Services Tax - GST<br>Got 9 Replies<br>GST<br>Dear Sirs, Whether ITC is admissible for the followings:- 1. Uniforms purchased for employees. 2. Stationery items and house keeping materials 3. Monthly taxi fare paid for pick up and drop up at home 4. GST paid to Service Provider....
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.... for EPF of employees 5. GST paid for Water Can (20 ltrs), Pet bottles (500 ml & 1000 ml) 6. Courier Charges 7. GST paid to Service Provider for Air Freight Service (Export) and Ocean Freight Service(Import) Reply By YAGAY and SUN: The Reply: 1. Uniforms purchased for employees.Yes 2. Stationery items and house keeping materials. Yes 3. Monthly taxi fare paid for pick up and drop up at home....
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..... No 4. GST paid to Service Provider for EPF of employees Yes 5. GST paid for Water Can (20 ltrs), Pet bottles (500 ml & 1000 ml) No 6. Courier Charges. Yes 7. GST paid to Service Provider for Air Freight Service (Export) and Ocean Freight Service(Import). Yes Reply By Kishan Barai: The Reply: Its simple that when services procured for the furtherance of business ITC would be available. Else....
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.... Not Reply By KASTURI SETHI: The Reply: I support the views of both experts. Reply By YAGAY and SUN: The Reply: The pre-requisites for availing credit by registered person are: He is in possession of tax invoice or any other specified tax paying document.He has received the goods or services. "Bill to ship" scenarios also included.Tax is actually paid by the supplier.He has furnished the retu....
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....rn.If the inputs are received in lots, he will be eligible to avail the credit only when the last lot of the inputs is received.He should pay the supplier, the value of the goods or services along with the tax within 180 days from the date of issue of invoice, failing which the amount of credit availed by the recipient would be added to his output tax liability, with interest [rule 2(1) & (2) of I....
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....TC Rules]. However, once the amount is paid, the recipient will be entitled to avail the credit again. In case part payment has been made, proportionate credit would be allowed. Reply By Ganeshan Kalyani: The Reply: Input tax credit is eligible on the inward supplies made in course or furtherance of business subject to ineligible credit as given in the law. Reply By kollengode venkitaraman: The....
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.... Reply: ITC ON WATER PURCHASED AND ON TAXI(PICK&DROP) ARE ALLOWED ASSUMING YHEY HAVE TO BE PROVIDED UNDER A CONTRACT WITH THE LABOUR OR AS PER GOVT. ORDERS. Reply By Ganeshan Kalyani: The Reply: Water is for personal consumption and hence not eligible for credit. Reply By YAGAY and SUN: The Reply: In law assumption do'nt work only facts and legal position works. Reply By Ganeshan Kalyani....
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....: The Reply: Agreed .<br> Discussion Forum - Knowledge Sharing ....