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Capital asset input tax


NOOHUNNAJEEULLA KHAN Harihar   27 October 2020

NOOHUNNAJEEULLA KHAN Harihar

 2 likes  65 points

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we have bought one car, specifically for business purpose in the name of proprietor, and shown in balancesheet as capital asset. now my query is that can we claim the input tax of the bought car full in the same month or it is to be spread to the 5 years.
NOOHUNNAJEEULLA KHAN Harihar

NOOHUNNAJEEULLA KHAN Harihar   27 October 2020

NOOHUNNAJEEULLA KHAN Harihar

 2 likes  65 points

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Thanks for the information vishesh sir
debora M

debora M (BUSINESS DEVELOPMENT MANAGER)     27 October 2020

debora M
BUSINESS DEVELOPMENT MANAGER 
 37 likes  981 points

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For claiming input tax credit, one must occupy a tax invoice or a debit note ... the same are deployed for rent as per the Section 17(5)(d) of CGST Act, 2017. 


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