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Refund for capital goods

Rengarajan Ramkumar (6 Points)

31 March 2021

input on capital goods can be claimed refund?

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7 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 31 March 2021

You can claim refund of ITC on capital goods provided that such ITC is used for taxable supplies

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RENU SHARMA (1388 Points)
Replied 31 March 2021

No you are not eligible for refund on capital goods

Rengarajan Ramkumar (6 Points)
Replied 31 March 2021

Ohhh.. thanks Sir

RENU SHARMA (1388 Points)
Replied 31 March 2021

Yes you can claim capital goods please ignore my earlier answer as it was mistakenly given

Raval Prashant (39 Points)
Replied 31 March 2021

Can anyone share notifications to claim refund on Capital Goods

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Kishor Lulla (1011 Points)
Replied 01 April 2021

Section 16 allows. sec 17 does not block. rule42, 43 for method of calculation.

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 01 April 2021

we can understand that Section 16 of IGST Act, 2017 entitles the person making zero-rated supplies to claim a refund of the input tax credit on inputs, input services, and capital goods. However, Section 16 of the IGST Act, 2017 provides that refund shall be claimed in accordance with Section 54 of the CGST Act, 2017 or the rules made thereunder.