Utilization of itc on capital goods

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Sanjib Banik (Querist)

25 July 2019 Dear Experts,
I purchased a Machinery in Nov.17. ITC of which was not taken & utilized fully in GSTR 3B in Nov.17. Taken & utilized proportionate amount by dividing 60 in every month to that month.Due to that reason I have a balance amount of ITC on Capital goods, which are not taken & utilized through GSTR3B till that date. Can I utilized & take this ITC in GSTR3B in this month of July 19.
Please suggest me.

CMA ALKESH PATEL

CMA ALKESH PATEL (Expert)

26 July 2019 YES YOU CAN TAKE ITC ON MONTH OF JULY-19
ANY RULES ARE NOT AVAILABLE FOR TAKE CREDIT FULL OR PARTLY FOR FIXED ASSETS.

Sanjib Banik

Sanjib Banik (Querist)

26 July 2019 Thank you Sir, for your reply but I have some confusion regarding Press release statement given by previous Finance Minister Mr. Arun Jaitley on 18.10.2018 that "Last date for avail input tax credit in respect of invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018 is 31st December, 2018 or the date of filing of annual return whichever is earlier will be the last date for availing ITC in relation to the said invoices issued by the corresponding suppliers during the period from July, 2017 to March, 2018."- Can you explain it in brief . Please Sir.

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