Itc on capital goods
This query is : Resolved
11 June 2019
Hi all,
Can anyone explain me the treatment of availing input tax credit in case of capital goods used for business purpose ?
Thanks...
Can anyone explain me the treatment of availing input tax credit in case of capital goods used for business purpose ?
Thanks...
11 June 2019
Hi,
You can take 100% input in a single installement. But if you sale or write off these assets before five year from the date of invoice, you have to reverse input credit after retention of 5% for each quarter
You can take 100% input in a single installement. But if you sale or write off these assets before five year from the date of invoice, you have to reverse input credit after retention of 5% for each quarter
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