Taxation
This query is : Resolved
vinay Kumar
(Querist)
16 June 2018
What is the treatment of Capital Goods under GST? Whether ITC of 100% can be availed or it should be write off for 5 years.Kindly suggest the treatment of ITC on Capital goods.
B Vinay Reddy
(Expert)
16 June 2018
Yes,
it should claimed on monthly basis at the time of filing return for the period of 5yeara
vinay Kumar
(Querist)
16 June 2018
Dear Sir,
As you said but in GSTR 2A ITC on capital goods will show at 100%.But we are claiming only 5%.It does not match.And how much value to be credited to Electronic Credit Ledger.Could you please explain with an example.
As you said but in GSTR 2A ITC on capital goods will show at 100%.But we are claiming only 5%.It does not match.And how much value to be credited to Electronic Credit Ledger.Could you please explain with an example.
16 June 2018
You can take ITC in single take at the time of purchase of Capital Goods if It's used Taxable Supplies
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