if we purchase capital goods like machinery etc .. can we eligble for take ITC on it ?
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Capital goods
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Yes.... Why not...?!!! 😊😊😊
thaks raja sir ... the most active person in this ca club... seriously respected person 🤗
can you help me another query
1-. is GTA gives a invoice gst rate 5% can we eligble for ITC
1-. is GTA gives a invoice gst rate 5% can we eligble for ITC
The Input Tax Credit is also allowed on GST paid on Capital Goods.
No ITC would be allowed if Depreciation has been claimed on the Tax component of the Capital Goods.
No ITC would be allowed if Depreciation has been claimed on the Tax component of the Capital Goods.
Yes...
You can get ITC for GTA related RCM basis Tax paid amount...
You can get ITC for GTA related RCM basis Tax paid amount...
its not RCM basis ... registered GTA gives invoice and collect 5% tax ... in this situation ITC allow ?
refer this one....
https://cleartax.in/s/goods-transport-agency-under-gst
https://cleartax.in/s/goods-transport-agency-under-gst
you can avail itc if the gta provider charges 5% as he is not eligible to take itc for himself but with if he pays at 12% he is eligible for itc
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