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ITC ON AC PURCHASED FOR SHOP

This query is : Resolved 
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(Querist)
24 May 2020 Dear sir
I have purchased a AC for my shop ( Whole sale/ retail cloth merchant).

Can I take the credit of SGST and CGST paid for AC.

Thanks
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 May 2020 Yes ITC can be taken over a period of 60 months being capital asset.
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CA AMIT JAKHWAL

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CA AMIT JAKHWAL (Expert)
26 May 2020 Dear Querist,

Yes, you can avail the full ITC paid on purchase of capital asset in one go.
No need to claim the ITC in 60 installments.
Just ensure to deal in only taxable supplies, to avoid the reversal of ITC under GST provisions.

Regards,
AJ
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