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      Question

      Input Tax Credit (ITC) under GST can be claimed by a

      registered person on:
      A All purchases Correct Answer Incorrect Answer
      B Only capital goods Correct Answer Incorrect Answer
      C Only input services Correct Answer Incorrect Answer
      D Tax paid on inputs and input services used for business Correct Answer Incorrect Answer
      E Tax paid on personal purchases Correct Answer Incorrect Answer

      Solution

      Input Tax Credit is the mechanism in GST that allows a registered person to claim credit for the tax paid on any supply of goods or services (inputs and input services) which are used or will be used in the course or furtherance of their business. It cannot be claimed for personal purchases (E) or for items blocked by law (e.g., motor vehicles for personal use).

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