Capital itc reversal

https://www.indiafilings.com/learn/rules-42-43-cgst-rules/

sirji is rule mai samajme nahi aata hai so Pl explain

Read the article in the above said link. You can get some clarity...

(no Hindi)

Monthly calculations karni padegi for capital goods over the useful life deemed to be 5 years.
For Example :
Say For a month the Total sale is 1000
Exempted sale 500
Total ITC on capital Goods is 300


1. Calculate monthly credit = 300÷60=5

2. Calculate ITC attributable to exempt supply - 5 x 500 ÷ 1000= 2.5/-

3. Reverse the 2.5/- ITC for that month

4. Pay interest as well 😂

Check rule 43(c)

thanks pankaj sir

YOU ARE ALWAYS WELCOME DEAR............................................

Dear Sir,

How to make gst bill for service and multiple goods supply, like a electrical item gst rate 5% 12% 18% 28% and provide fitting service.

Originally posted by : Vijay Baraiya
	Dear Sir, How to make gst bill for service and multiple goods supply, like a electrical item gst rate 5% 12% 18% 28% and provide fitting service.