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Reversal of itc on capital goods under gst

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(Querist)
24 October 2017 Treatment for GST ITC reversal with respect to capital Assets....Whether it has to be capitalised or charged in Profit and loss A/c.....
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
25 October 2017 Same will be capitalised .......
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CA AJAY KUMAR AGRAWAL

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CA AJAY KUMAR AGRAWAL (Expert)
26 October 2017 Reversal of ITC on capital assets will arise in case of sale / disposal of capital assets. In that case it is to be transferred to Assets (Capital) account to ascertain profit or loss on such sale.
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