Table of Contents
- 1 Can input be claimed on air conditioner?
- 2 Can we take GST input on office equipment?
- 3 Is AC a capital goods?
- 4 Can GST be claimed on purchase of motor vehicle?
- 5 Can we claim GST input on electricity bill?
- 6 Is GST applicable on AC installation charges?
- 7 Can I claim 100\% of GST paid on my office equipment?
- 8 How to claim input credit under GST?
Can input be claimed on air conditioner?
“Input tax credit is not admissible on Air-conditioning and Cooling System and Ventilation System, as this is blocked credit falling under Section 17(5)(c) CGST Act,” the AAR ruled.
Can we take GST input on office equipment?
GST: ITC can be availed on Equipment, Furniture, Reagents/consumables used for Performing Test, rules AAR [Read Order] The Karnataka Authority of Advance Ruling (AAR) ruled the Input Tax Credit (ITC) can be availed on equipment, furniture, reagents/consumables used for performing tests.
Can ITC be claimed on office furniture?
Considering the above points, yes, you can claim ITC on furniture purchased for office usage (since office use is a part of business).
How do I claim GST on my air conditioner?
However section 17(5) of CGST Act, 2017, restrict input tax credit on few goods and services. ITC on purchase of air conditioner is not restricted u/s 17(5), therefore input tax credit can be availed.
Is AC a capital goods?
To the level used for making taxable supplies of goods/services, the credit must be utilized on the goods which are capitalized in books of account….ITC Eligibility of Basic Capital Goods:
Capital Goods | Eligible (Yes/ No) |
---|---|
Air conditioner, electrical fittings, bulbs, CCTV etc. | Yes |
UPS, generator, transformer | Yes |
Can GST be claimed on purchase of motor vehicle?
The school can claim ITC on the GST paid on the car. ITC will be allowed on motor vehicles (and other conveyances) used to transport goods from one place to another. However, this is concerning other transporters and not goods transport agencies (GTA).
What is the GST on office furniture?
Current average VAT rate applicable on iron or steel furniture is 12.5\% whereas under GST except for wooden furniture, any other articles of furniture would be charged tax at the rate of 28\%….Tax liability under GST.
Tax on the table (final product) | Rs 14,000 (28\% of 50,000) |
---|---|
Net tax liability | Rs 8,600 (14,000 – 5,400) |
Can we claim GST on Scooter?
Reply— A taxpayer can claim ITC on purchase of motor vehicle (goods deliver vehicle) when used for transportation of goods provided it is exclusively used for Transportation of goods. ITC of GST paid on purchase of bike (two-wheeler) will not be available.
Can we claim GST input on electricity bill?
No. An Input GST credit is the amount of GST paid while purchasing goods for the purpose of production of output. However, an Electricity bill (that includes electricity tax) is not a tax payment towards the purchase of any input goods therefore, it can not be a GST payment.
Is GST applicable on AC installation charges?
No. 3 item no 3 of notification no. 20/2017(Central tax rate) dated 22/08/2017 taxable @ 6\% CGST. Whether the transaction is Composite supply liable to tax at the rate applicable to Air Conditioners which are the principal goods involved in the transaction under schedule IV, Sr.
Can I claim input tax credit on GST paid on air conditioner?
Similarly, when you are purchasing any Capital Goods* (Air Conditioner) for your Business**, you will pay the applicable GST rate. This GST paid can be claimed as credit in the same way as Inputs+. However, if you claim depreciation++ on the GST paid while purchasing the capital asset, you cannot claim input tax credit.
Can I claim input tax credit on the depreciation of air conditioner?
However, if you claim depreciation++ on the GST paid while purchasing the capital asset, you cannot claim input tax credit. So that we can say that, if you claim Depreciation (on Cost+GST) under the provisions of the Income-tax Act, 1961 then on such Air Condition purchased, then you can not get the Input Tax Credit. Your are not logged in .
Can I claim 100\% of GST paid on my office equipment?
So, if you buy furniture or an AC for your office, you can claim 100\% of GST paid on such assets in the year of purchase itself. Instead, you can capitalise GST paid on such motor vehicles and claim depreciation on it every year.
How to claim input credit under GST?
You can claim input credit on the GST amount paid in the subsequent month while filing GST returns. Under GST, any asset that is capitalised in the books is considered as ‘Capital goods’ except immovable property and motor vehicles.
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