Availability of ITC in case good , Service used for both Business and Non- business Purpose

    Posted By : Divya Saluja / Published on : 13-Oct-2018 11:23 PM / View : 282 / Comment : 1
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    Where goods and/or services received by a taxable person are used for the purpose of business and non-business supplies, whether the input tax credit is available to the registered taxable person?
    Read more on : business both purpose used service case good availability

    • Yes!

      GST Input Tax Credit is allowed partially where Input (Capital Googs) is being used for Business as well as Personal purposes and it is termed as "Common Credit" and dealt with as per Section 17 of CGST Act, 2017 read with Rule 43 of CGST Rules, 2017.

      GST Input Tax Credit of Other Inputs and Input Services (Except Capital Goods) is allowed proportionately to the extent it is being used for Taxable Business Supplies (On the basis of Ratio of Turnover attributable to common input tax credit of GST).

      13-10-2018 / 07:01:41 AM

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