ITC on Capital
This query is : Resolved
Venkatesh K N
(Querist)
21 October 2017
I filed 'nil' GST 3b on July.
But later I got purchase bill which is used for capital purpose and took that on GSTR2.
* our output tax is 5%
* Input on capital goods is 28%
By filing GSTR 2 how much I can claim input tax on capital goods???
21 October 2017
You can claim full ITC for capital goods*....
What is the exact item you purchased...?
Venkatesh K N
(Querist)
21 October 2017
actual business is crusher
item we purchased is JCB machine
21 October 2017
Yes...
You can if it's your business purpose...
>>> GOOD LUCK <<<
CA R SEETHARAMAN
(Expert)
21 October 2017
Claim ITC monthly for 60 months
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Intimation under section 245
- Capital gains in IT returns
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
