Capital goods sales under GST for NBFC structure
This query is : Resolved
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vinesh k g
(Querist)
27 January 2021
Respected sir,
Kindly advice a NBFC proposed to sale capital goods, at the time of purchase avail itc @ 50%. I would like to know lapsed ITC can i setoff at the time of sales.
Kindly advice a NBFC proposed to sale capital goods, at the time of purchase avail itc @ 50%. I would like to know lapsed ITC can i setoff at the time of sales.
Lekhraj sood
(Expert)
27 January 2021
You mean to say balance 50% ITC you have not availed?
vinesh k g
(Querist)
28 January 2021
yes, 50 % not availed
Lekhraj sood
(Expert)
28 January 2021
You will have to forego that 50%,it is already time barred.
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