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ITC for capital goods

10 July 2018

Dear Experts,

I have purchased capital goods which comes under 100% reversal of ITC.
So my question is, in which column of GSTR-3B i have to show this purchase to avail ITC.
Looking for your valuable comments.
Thanks in advance.

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12 Replies

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 10 July 2018

Which capital goods you have purchased ? Motor car?

AMOL RAYKAR (128 Points)
Replied 10 July 2018

it's not motor car...we have purchased pumps and thermostat which are accessories required to give our services.

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 10 July 2018

So how can you say it comes under 100% reversal of ITC?

Anyway, ITC is available on such purchase, you will show it in 'All other ITC' column.

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AMOL RAYKAR (128 Points)
Replied 10 July 2018

it can be 100% reversal of ITC bz using this capital goods we are giving taxable service/ goods.. thank you for your assistance

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 10 July 2018

Ohh u mean 100% claim. Got it !

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AMOL RAYKAR (128 Points)
Replied 10 July 2018

yup 100% credit......so I need to file this capital goods as normal purchase only

1 Like

Vinod Babu (24191 Points)
Replied 10 July 2018

What is your nature of business??

AMOL RAYKAR (128 Points)
Replied 11 July 2018

we are in business of services and supply of equipment which are taxable

Vinod Babu (24191 Points)
Replied 11 July 2018

Then surely you can take full ITC on capital goods.

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AMOL RAYKAR (128 Points)
Replied 11 July 2018

i have one doubt that how GST officer will deferenciate that the purchase is general business purchase or capital goods purchase ,if we put capital goods purchase in the column of "All other ITC"

RAJA P M ("Do the Right Thing...!!!") (127233 Points)
Replied 11 July 2018

Originally posted by : AMOL RAYKAR
	i have one doubt that how GST officer will deferenciate that the purchase is general business purchase or capital goods purchase ,if we put capital goods purchase in the column of "All other ITC"

The GSTR 3B is not a main return. It's Just a interim return So, We will file Outwards and Inwards based values...

In case GSTR 2 and GSTR 3 will be available then we can feed the difference...

Also officer can found based on HSN or Dealer who is suuply the Goods.

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CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 11 July 2018

All other ITC in Gstr-3b means all ITC other than ITC in 4 points mentioned above. Now ITC in case of normal purchase as well as asset purchase is available in that year itself, so why will officer differentiate between the 2 purchase for availment of ITC purpose.

1 Like