Input gst on sale of capital goods

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CHIRAG (Querist)
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29 December 2018 If We Sold Capital goods under Gst, The Unused Input GST Balance which is Still available on purchase of that Capital goods Earlier, Can We Use that Input Gst Balance?

Udaya Chandran

Udaya Chandran (Expert)
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29 December 2018 If a capital goods sold within 5 years from the date of purchase, ITC should be reversed as per Rule 44 (b) for the remaining life of the capital goods.

CHIRAG

CHIRAG (Querist)
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29 December 2018 @Udaya Chandran, that means We have to pay the remaining unused balance by adding it in output gst in gstr 1.

Udaya Chandran

Udaya Chandran (Expert)
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31 December 2018 Yes, you can either add to the liability or reverse the ITC if balance available.

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CHIRAG

CHIRAG (Querist)
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31 December 2018 @ Udaya Chandran, Please suggest on one more querry, How to claim Input Gst on Capital goods, Is it Allowed in Installments or It can be Claimed jst like inputs and input services?

Udaya Chandran

Udaya Chandran (Expert)
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01 January 2019 You can claim the input just like other inputs or services.

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CHIRAG

CHIRAG (Querist)
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01 January 2019 @ udaya chandran, thanks for all the answers.

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