ITC CLAIM ON CAPITAL GOODS FOR SUPPLY OF TAXABLE GOODS
This query is : Resolved
16 February 2023
Can I claim fully (One Installment) Input Tax Credit on purchase of Capital Goods where the business is completely involved in supply of taxable goods ?
16 February 2023
Yes, eligible.
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16 February 2023
Yes you can take ITC on capital goods fully in the month of purchase itself
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17 February 2023
Thank you Sir for valuable time...I have one more query is that, is there any restrictions for utilize or setoff whole ITC amount towards payments of tax liabilities ?
17 February 2023
There is no restriction. You can setoff in the first month itself
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17 February 2023
Thanks You sir for your valuable response.
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