Itc available on purchase of fixed asset or capital goods

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2017 RESPECTED SIR/MADAM,
SUPPOSE A MANUFACTURING CO. PURCHASE A COMPUTER, GIVING GST @ 18% ALREADY. CAN THEY AVAIL FULL ITC ON PARTICULAR PERIOD.

IF NOT, THEN WHAT WILL BE THE PROCESS & HOW IT WILL CALCULATE..??

Rahul varshney

Rahul varshney (Expert)
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02 August 2017 In terms of section 2(54), 2(55) & 2(20) of the MGL respectively. It may be noted that credit of tax paid on capital goods also is permitted to be availed in one instalment.

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