TaxTMI 
TaxTMI 
TaxTMI 
sec 16 (1)
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....ec 16 (1)<br> Query (Issue) Started By: - giri gattupalli Dated:- 3-5-2021 Last Reply Date:- 16-6-2021 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>respected sir, one of my clint purchased....
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.... 10 lakh rupees gold and obtained tax invoice during fy 2020-21.and it was included in business assets in balance sheet. plese discuss whether this input supply qulified as in the course of business s....
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....upply and eligible for taking input tax credit or not please discuss thanking you Reply By Rajagopalan Ranganathan: The Reply: Sir, if the nature of your client' business is supplying (selling....
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....) gold as such or use the same for manufacture of gold jewellary and supply/sell the same to customers then your client is eligible to avail ITC. Normally purchase of gold will be treated as for perso....
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....nal consumption. In that case ITC is not available. If it is used in the course or furtherance of business then ITC is available. Reply By YAGAY andSUN: The Reply: In addition to above reply, please....
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.... also refer the AAR of Maharashtra in the matter of BIOSTADT INDIA LIMITED - 2019 (3) TMI 540 - AUTHORITY FOR ADVANCE RULING, MAHARASHTRA, in which it was held for distribution of Gold to customers, I....
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....TC on procurement of gold coins will not be available.<br> Discussion Forum - Knowledge Sharing ....