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Can GST be claimed on capital goods?
My GST is taken on work contract, transport service and trading. I bought a scorpio on november 23rd. His GST input is visible on the portal, will his ITC claim be taken?
Replies (5)
As per my view,
This ITC can't be claim. It's ineligible ITC.
This ITC can't be claim. It's ineligible ITC.
In which column to reverse GST inputs
It's Better to consult with Your Auditor.
Please go through the following link. You can get some clarity about the ITC reversal...
https://cleartax.in/s/itc-reversal-gst
Please go through the following link. You can get some clarity about the ITC reversal...
https://cleartax.in/s/itc-reversal-gst
Gst can be claimed on capital goods depending on whether it is used for the the furtherance of business.
As per my opinion, if you have purchase vehicle for transport business then you taken ITC because of used for furtherance of business.. but it is used for personal purpose then you can't taken ITC. you have to booked in your aseest and get depreciation as well..
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