vinayak c. chavan (CPT passed) (1011 Points)
16 November 2017We are private limited company. We have purchased computers for our company for which we have received invoices including IGST. Can we take input credit on this purchases? How should we book invoices of fixed in accounts?
Priyanka
(Audit team member)
(200 Points)
Replied 16 November 2017
Yes, you can take input tax credit on the taxable amount fully at a time. just like input on purchases and input services. No input available on goods and services whose covered in Section 17(5) of GST Act 2016.
Team: Carocks.blog
vinayak c. chavan
(CPT passed)
(1011 Points)
Replied 16 November 2017
How can we adjust excess IGST?
Priyanka
(Audit team member)
(200 Points)
Replied 16 November 2017
Excess IGST will be adjusted in next month liablity against IGST, CGST and then SGST Payments in a same order.
Team: carocks.blog
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