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capital good itc

ITC / Input 149 views 4 replies
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264 Points Posted on 11 September 2017
i am purchase capital good like a.c. for my office. can i get full itc on first year.or get itc following years.
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On 11 September 2017 at 22:21 Report
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138 Points Posted on 11 September 2017

Yes you can take input credit in the year in which it is purchased.

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On 11 September 2017 at 22:24
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264 Points Posted on 11 September 2017
somoone telling capital good itc get in 5 years . every year equal for upto 5 years. this is rights?
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On 11 September 2017 at 22:27
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138 Points Posted on 11 September 2017

Those days have gone. You can claim the input credit in the year of purchase itself for further clarification you may refer to Section 16 of CGST Act,2017.

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On 11 September 2017 at 22:35
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student
22 Points Posted on 11 September 2017
if ur output service is not exempt from tax you can claim 100% in the year of purchase or else you can only proportionately
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On 11 September 2017 at 22:42


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