TMI BlogEligibility of Input tax creditX X X X Extracts X X X X X X X X Extracts X X X X ..... XYZ, a Company is 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 com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany eligible to 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 = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... You are not eligible 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In this regards, Investment 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 ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tending loans, deposits or advances cannot be classified under stock broking services. This is my point of view. Thanks - Eligibility of Input tax credit - Query Started By: - Sushil Aggarwal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 15-11-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... axmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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