Availing IGST credit

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..... Availing IGST credit
Query (Issue) Started By: - Chidambaram Subramaniam Dated:- 14-11-2018 Last Reply Date:- 2-12-2018 Goods and Services Tax - GST
Got 6 Replies
GST
Dear Sir, Our Company provide temporary accomodation to many of the outstation candidates at the time of joining the company through a vendor and the vendor charges IGST in all their invoices. My Query is whether the c .....

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..... ompany can avail credit of the IGST charged by the vendor for such nature of expenses. Please guide us. thanks and regards Chidambaram Reply By KASTURI SETHI: The Reply: Dear Querist, Will such expenses form part of Profit & Loss Account in the Company's Annual Report/Balance Sheet ? Reply By Chidambaram Subramaniam: The Reply: Dear Sir, Yes, It forms part of our P&L account and bala .....

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..... nce sheet. Regards Chidambaram Reply By KASTURI SETHI: The Reply: In my view, this activity conforms to the definition of " ---------------------in the course of business or furtherance of business of the Company. Credit of IGST is admissible, if you qualify other conditions. Needless to say expenses of P&L Account are part of business. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: You .....

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..... r company can avail credit. Reply By Brijesh Verma: The Reply: I am sorry but I am not able to comprehend as to how your vendor can charge IGST in respect of accommodation services! Please throw some light. Experts may correct my understanding if I am wrong. Reply By CASusheel Gupta: The Reply: Agree with experts, however 1) the vendor can charge only CGST+SGST 2) ITC allowed whether it is .....

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..... IGST/CGST+SGST
Discussion Forum - Knowledge Sharing .....

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