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Itc of capital goods

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(Querist)
22 September 2018 We are purchasing new textile machinery @18% GST and our manufactured product is taxable @ 5% GST.

Can we claim Input Tax Credit & can we claim refund of this ITC?
Please reply
Thank you
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RAJA P M

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RAJA P M (Expert)
23 September 2018 You can claim ITC. You can't claim Refund...
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 September 2018 Claim ITC over a period of 60 months.



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AMITKUMAR KHOT

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AMITKUMAR KHOT (Querist)
23 September 2018 @Raja P M Sir, @CA R Seetharaman Sir, Thank you sir for your valuable reply

@CA R Seetharaman Sir, why 60 months only
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 September 2018 Normally 60 months allowed.

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