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capital good itc
i am purchase capital good like a.c. for my office. can i get full itc on first year.or get itc following years.
Replies (4)
Yes you can take input credit in the year in which it is purchased.
somoone telling capital good itc get in 5 years . every year equal for upto 5 years. this is rights?
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.
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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