TMI BlogITC ON OFFER FOR SALE OF SHARESX X X X Extracts X X X X X X X X Extracts X X X X ..... ITC ON OFFER FOR SALE OF SHARES X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany. The company have incurred expenses for such offer for sale of promoters scurities and availed ITC on the said expenses.Whether the company is eligible for ITC? Reply By Ganeshan Kalyani: The Reply: Yes, ITC is eligible for taking credit. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: ITC is eligible in this case, Reply By Padmanathan Kollengode: The Reply: Dear querist, kindly provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the nature of expenses incurred. Reply By SHARAD ANADA: The Reply: Natrue of expenses are Charged On listing of the shares , amount Charged On underwriting fees, Charged Or initia fees on signmg of the mandate etc. All such expenses are paid to consultant who charged GST on the said servies invoices. As per department offer for sale of share is securities transaction and securities are neither ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods nor services hence as per Sec. 16(1) ITC is not eligible. Pl guide Reply By Padmanathan Kollengode: The Reply: Though securities are neither goods nor service, the impugned services mentioned by you such as underwriting, listing of securities etc are not themselves 'securities' per se and are indeed services. Therefore, credit of input tax charged on supply of such services under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 16(1) since in it in the course or furtherance of business. X X X X Extracts X X X X X X X X Extracts X X X X
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