WebFeb 4, 2024 · maine ek creta car apne khud ke liye purchase ki hai aur apne firm ke gst pe jo ki mere gst main cess aur cgst main itc so ho raha hai toh return gst ka kaise filed kare. Reply. June 14, 2024 at 8:16 pm ashish gupta says: WebInput tax credits (ITCs) As a registrant, you can claim an ITC to recover the GST/HST paid or payable on the purchases and operating expenses related to your commercial activities. Generally, commercial activities include the making of supplies of taxable property and services. For more information about what are considered to be commercial ...
GST authorities to show-cause more private insurance companies
WebJul 21, 2024 · However, going by the interpretation of law, it may be opined that eligible taxes paid on purchase of demo cars meant for use in course of furtherance of business and which is capitalized in the books of accounts may be allowed to be set off as Input Tax Credit (ITC) under the GST law, if one or more of the conditions of 17(5)(a) are satisfied ... WebMar 15, 2024 · ITC ON PURCHASE CAR. NEWLY PURCHASE A CAR GIVEN ON RENT CONTRACTUAL BASIS CAN CLAIM ITC, HERE TAX PAID BY THE CLIENT. PLEASE ADVICE THANKS.... 15 March 2024 ITC can't be claimed as Tax paid by the client. You need to be the querist or approved CAclub expert to take part in this query . sere plains
Input tax credits - Canada.ca
WebJul 4, 2024 · Jaysingh (Income Tax GST Assessment Accounting finance) (39 Points) Replied 15 June 2024. Sec 17 (5) (a) are only for purchase of motor vehicle and in whole sec17 (5) sub clause (a) to (h) there is no specifically mention about the ITC on repair and maintaince not allowed. The opening line of section 17 (5 ) mentions that “input credit … WebJan 4, 2024 · Fortuner of Rs 20 lakh (including GST of Rs 3.60 lakh) purchased by Cars24 (Car dealer) and the later car sold to ABC associates for Rs 25 lakh (including GST of Rs 4.5 lakh). In this case, Cars24 can take input credit of Rs 3.60 lakh and be liable to pay the balance amount of GST of Rs 90 thousand. WebFeb 9, 2024 · ‘Input Tax Credit’ or ‘ITC’ means the Goods and Services Tax (GST) paid by a taxable person on any purchase of goods and/or services that are used or will be used … se repetant tous les jours