ITC CLAIM ON CAPITAL GOODS IN ITC-01
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28 May 2026
ITC CLAIM ON CAPITAL GOODS IN ITC -01 ELIGIBLE OR NOT?
29 May 2026
Whether ITC on capital goods can be claimed in Form GST ITC-01 depends entirely on the registration type. It is ineligible for brand-new or voluntary registrations under Sections 18(1)(a) and 18(1)(b). However, it is eligible if you are migrating from the composition scheme to the regular scheme [Sec 18(1)(c)] or if your exempt business has become taxable [Sec 18(1)(d)], provided the credit amount is reduced by 5% per quarter from the invoice date.
29 May 2026
thanks sir ji for your advise
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