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Reversal of ITC in case of conversion of Stock in trade into Capital goods

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(Querist)
30 March 2023 Please Guide me the accounting entry when we convert stock in trade into Capital Goods and also the treatment of ITC taken when stock was purchased. Manner of Reversal.
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
31 March 2023 Reversal not required when the capital asset is used for business.

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