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.

(Querist)
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.

Santosh (Querist)
12 June 2020 Thank you Sir........

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

Santosh (Querist)
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.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details