Mr C acquired a Capital Asset on 1st April 2017 and used for production of exempt supplies only. Now in November 2018 his supplied become Taxable and cost of asset was 250000 in GST 18% was charged on it. ITC is applicable 250000*18 % = 45000 .Now number of quarters of usage
have elapsed between April 2017 to November 18 and net ITC available would be?
CAclubindia
