EXAMPLE 112
Determine
whether the input tax credit available
to ABC Ltd. in respect of following items.
|
S.No. |
Particulars |
GST
Paid on Input/CG/ IS |
|
1 2. 3. 4. 5.. |
Input
B Goods
used for personal purpose Food
and beverages provided to employees Capital
goods purchased and capitalized in books Input
used for construction of building |
88000 18000
20000 300000 |
Answer
Admissibility of
ITC to ABC Ltd
|
S.No. |
Particulars |
Amount
of credit (GST) Rs. |
|
1 2. 3. 4. |
Input
B Goods
used for personal purpose Food
and beverages provided to employees Capital
goods purchased and capitalized in books Input
used for construction of building |
88000 NIL NIL
300000 |
|
|
Total
eligible credit |
3,88,000 |