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.
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
CAclubindia
