Is there any separate rules or treatment of capital goods under GST for ITC of following mentions type:-
- Direct related with Production (Eg. Plant & Machinery)
- Indirect related with production (Eg. Generator)
- Not related with production (Eg. A.C.)
AND
If they are sold within 5 years.
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Capital Goods Treatment under GST
Replies (5)
You have to calculate proportionate itc
source: https://cleartax.in/s/itc-rules-capital-goods-gst
If all ur capital goods show in ur P/L account and not calculate deprition then you are eligible to claim ITC.
ITC available.
But on selling of capital goods within 60 months, proportionate reversal of itc or output tax whichever is higher is to be paid
But on selling of capital goods within 60 months, proportionate reversal of itc or output tax whichever is higher is to be paid
Dear Anshuman
Cannot get you .
If you are showing capital goods in p&l then it' is not capital goods .
kindly raise your query with more clarification.
Cannot get you .
If you are showing capital goods in p&l then it' is not capital goods .
kindly raise your query with more clarification.
Yes, I I do agree with Pankaj Rawat ji. Please explain your point in clear concept....Mr.Ansuman...
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