1.after 60 months air conditioner input reverse how to calculate please us
2.only for air conditioner or any other capital goods please tell us
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Capital goods input reverse
Replies (1)
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Useful Life: The GST law considers the useful life of capital goods to be 60 months.
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Post-60 months: If you sell or dispose of the asset after it has been used for more than 5 years, you are typically not required to reverse the ITC.
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Within 60 months: If sold before the 5-year mark, you must calculate and pay the higher of the "pro-rata ITC" (based on remaining quarters) or the "tax on the sale/transaction value."
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