Can we claim GST on clothes?

Under the all categories, any piece of apparel or clothing would be taxed at 5\% GST if the taxable value of the goods does not exceed Rs. 1000 per piece. All types of apparel and clothing of sale value exceeding Rs. 1000 per piece would be taxed at 12\% GST.

Can we claim ITC on office expenses in GST?

Input tax credit means that the tax paid on your purchases is allowed as credit which can be set off from your GST payable liability. Input tax credit was available in VAT and Service Tax as well. However, there it was not possible to take Input Tax Credit on Central Sales tax, Entry Tax, and other taxes.

Can we claim GST on office equipment?

GST: ITC can be availed on Equipment, Furniture, Reagents/consumables used for Performing Test, rules AAR [Read Order] The Karnataka Authority of Advance Ruling (AAR) ruled the Input Tax Credit (ITC) can be availed on equipment, furniture, reagents/consumables used for performing tests.

What is the GST on fabric?

12 percent
GST rate on fabrics has been increased to 12 percent from 5 percent and that on apparel of any value has been increased to 12 percent, compared to earlier when pieces priced up to Rs 1,000 were subject to 5 percent GST.

What is the GST on readymade garments?

12\%
Readymade garments of sale value not exceeding Rs. 1000 per piece attract 5\% GST. Readymade garments of sale value exceeding Rs. 1000 per piece attract 12\% GST.

Can you claim GST as a business expense?

GST tax credits for business expenses If you’re registered for GST, you can claim that back. You do this by claiming a GST tax credit when lodging your business activity statement (BAS). The ATO will balance those credits against the GST you owe when working out your refund or bill (learn more in working out your GST).

Can we claim GST input for air conditioners purchased for office use?

Under GST, every registered person is eligible to claim ITC on purchase of goods/services intended to be used in the course of furtherance of business. Further, if the AC is installed in an office/ factory for business purposes, ITC can be available.

Can we take GST input on building materials?

No ITC is available for goods/services for construction of an immovable property on his own account. Even if such goods/services are used in the course or furtherance of business, ITC will not be available. But this rule does not apply to the plant or machinery.

Can we claim GST on TV?

If the TV purchased by the proprietor have to be used for business purpose then, ITC can be claimed. The following conditions are to be fulfilled for claiming ITC: he is in possession of a tax invoice or debit note issued by a supplier registered under the Act. he has received the goods or services or both.

Can We claim input tax credit for electrical goods under GST?

You can take ITC of Electrical Goods except if such electric goods are used for Personal Purpose. As per GST Act, Input Tax Credit can be availed for goods or services if it is used in the course or FURTHERANCE of business. Can we claim GST on a refrigerator for office use?

Can I take input tax credit of GST paid on furniture?

Prima facie it seems that you are eligible to take the input tax credit of GST paid on Furniture used for the business. The Key factors which needs to be taken care of are inter-alia: Proper GST Tax Invoice issued by the supplier in your favor. Tax collected by the supplier has been actually paid to the Government.

Can company provide uniform to its employees under GST?

Anyone can participate to share knowledge. We acknowledge the contributions of Experts/ Authors. Company providing the uniform to their employees and for that company made contract with tailor and tailor is already registered under gst and he billed the company with gst. In such case, can company avail the ITC?

Can I claim ITC on furniture purchased for office use?

Considering the above points, yes, you can claim ITC on furniture purchased for office usage (since office use is a part of business). Can GST be paid on air conditioners purchased by firm name from online sites eligible for input tax credit by firm?