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Capital itc reversal
How to calculate Capital reversal for 43 rule
Replies (8)
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)
(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)
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. |
 |
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