Input tax credit on capital goods under gst regime
This query is : Resolved
21 September 2017
Dear All,
I would like to know what is the rule for claiming ITC on Capital Goods. Will the total amount of ITC on capital goods be claimed in one go or in installments?
Regards
Shoeb
I would like to know what is the rule for claiming ITC on Capital Goods. Will the total amount of ITC on capital goods be claimed in one go or in installments?
Regards
Shoeb
21 September 2017
In one go. No installment system under GST Regime.
21 September 2017
But keep in mind that if you claim GST on capital goods you will not be allowed depreciation on GST amount in Income Tax.
22 September 2017
Dear All,
Thank you very much.
Regards
Shoeb
Thank you very much.
Regards
Shoeb
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Bank Accounts in Balance Sheet for ITR 3
- ITR 1: Details for showing Exempt Income
- ITR validation error - Balance sheet is not filled
- ITR returnFY25-26
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
