Eligibility of Input tax credit

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..... Eligibility of Input tax credit
Query (Issue) Started By: - Sushil Aggarwal Dated:- 15-11-2019 Last Reply Date:- 18-11-2019 Goods and Services Tax - GST
Got 3 Replies
GST
XYZ, a Company i .....

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..... s registered person as trader of goods under GST. It invests some of its funds in Mutual Fund. At the time of sale of MF, it pays GST on bill of Share broker of Mutual Fund. Is the company eligible to .....

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..... take credit of the same more particularly when the Services by way of extending deposits, loans or advances etc. has been exempt from GST. Reply By Ganeshan Kalyani: The Reply: You are not eligibl .....

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..... e to take credit. Reply By Sushil Aggarwal: The Reply: Sir, Can you elaborate a little more quoting section/rule which prohibits. Reply By Alkesh Jani: The Reply: Sir, In this regards, Investment .....

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..... in mutual funds (Securities) and bill raised by stock broker is not eligible for ITC, Please refer Section 17(3) of CGST Act,2017. Further, Services by way of extending loans, deposits or advances c .....

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..... annot be classified under stock broking services. This is my point of view. Thanks
Discussion Forum - Knowledge Sharing .....

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