Please clarify while filing the last return of service tax, Can I show taxes paid on capital goods purchased in the last 12 months so that the same can be carried forward as a credit in the gst regime. Thanks
Lavina (CA) (30 Points)
07 April 2017Please clarify while filing the last return of service tax, Can I show taxes paid on capital goods purchased in the last 12 months so that the same can be carried forward as a credit in the gst regime. Thanks
MUKESH BHATTER
(PROFESSIONAL)
(47 Points)
Replied 08 April 2017
You must have paid Excise and vat on capital goods
As per my opinion -You can claim credit of excise paid on CG but you would not be eligible for VAT credit
Lavina
(CA)
(30 Points)
Replied 10 April 2017
Thankyou for the clarification. Please confirm I can claim this excise duty on the capital goods purchased btwn april 2016-17 in my last service tax return (assuming return filed in april 17) only if I have not claimed / do not wish to claim depreciation on this duty amount.
CAclubindia
