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Capital goods purchase Items ITC we will cliam Refund

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accountant
80 Points Posted on 28 July 2020
Dear Sir

one of my dealer purchases a capital goods like furniture and other items approximately 4 lacks so we will cliam Refund such amount or that ITC How to utilize the firm account

please clarify my doubts
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On 28 July 2020 at 19:37 Report
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1313 Points Posted on 28 July 2020
Where the registered person has claimed on the tax components of the cost of capital goods and plant and machinery under the provision of IT Act 1961, the ITC on the said tax component shall not be allowed.
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On 28 July 2020 at 22:29
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GST Practitioner
55067 Points Posted on 28 July 2020
Yes the ITC on same can be availed, but refund cannot be claimed.
You can Utilise the ITC availed on said goods & can be set-off against your Outward Tax Liability.
301 Reply
On 28 July 2020 at 23:03


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