Carry forwarding of 2019-20 ITC


This query is : Resolved 

Quick Summary
This discussion clarifies that remaining Input Tax Credit (ITC) from FY 2019-20 can be automatically carried forward to FY 2020-21, with no manual intervention needed. It also advises that an Epson projector purchased for business should be treated as an asset and the ITC claimed over 60 months, rather than as immediate expenditure.

08 June 2020 Can we carry forward FY 2019-20 remaining ITC to 2020-21...?
Do we need to make anything manually to bring it to next year or It will automatically takes place..?

08 June 2020 It will automatically take place.

12 June 2020 Thank you Sir........

12 June 2020 Welcome.................

12 June 2020 Epson Projector purchased in business, should we treat this as asset or we can treat as expenditure and claim ITC....?

12 June 2020 Treat it as an asset and claim ITC over a period of 60 months.


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