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Input tax credit on capital goods


24 June 2017 KIND ATTN. SIR

THE ASSESSEE BEING A GARMENT MANUFACTURER YET TO BE REGISTERED UNDER TNVAT ACT , SINCE IN THE GST TRANSITION PERIOD, PURCHASED SEWING MACHINES DURING JUNE,2017 ( CAPITAL GOODS) WITH VAT INPUT TAX@5%, WITHOUT TIN .
KINDLY CLARIFY WHETHER INPUT TAX ON CAPITAL GOODS ON MACHINERY PURCHASED CAN BE CARRIED FORWARDED TO GST AS INPUT TAX CREDIT.
WITH REGARDS
CA.P.SHANGAR FCA




24 June 2017 Yes same will be available.

24 June 2017 As you are an unregistered during the purchase of capital Asset, you can't carry forward the credit to GST




24 June 2017 Even you are unregistered you will get credit in GST.



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