Can we take input tax credit for capital goods
This query is : Resolved
16 April 2018
Dear Sir,
I had a doubt . Is a company or individual or organization (spencers) can take input tax credit on Capital goods.
Here in my situtation a friend of mine had started a Retail store in hyd. He purchased Shelf and wardrobes for Displaying Provisions and speices and flours.
Now my doubt is can he is eligible to claim input tax credit on the above mentioned capital goods. Please help out.
I had a doubt . Is a company or individual or organization (spencers) can take input tax credit on Capital goods.
Here in my situtation a friend of mine had started a Retail store in hyd. He purchased Shelf and wardrobes for Displaying Provisions and speices and flours.
Now my doubt is can he is eligible to claim input tax credit on the above mentioned capital goods. Please help out.
16 April 2018
Eligible to claim input tax credit.
23 May 2018
Sir, i need clarification. am i eligible to take entire amount of itc on capital goods or do we need to take itc on proportionate basis for 60 months. Please do guide me
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Rent lease agreement
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
