A material which was exempt until September 2019 became taxable thereafter. They have took ITC proportionately on few capital goods in one shot. Is it possible now to reclaim ITC by filing Form GST ITC 01?
sathya kumar s (AUDIT STAFF) (183 Points)
07 May 2020A material which was exempt until September 2019 became taxable thereafter. They have took ITC proportionately on few capital goods in one shot. Is it possible now to reclaim ITC by filing Form GST ITC 01?
CA Abhishek Goel
(Indirect taxes )
(131 Points)
Replied 07 May 2020
sathya kumar s
(AUDIT STAFF)
(183 Points)
Replied 07 May 2020
Sir, cut off date to claim ITC through form ITC 01 when an exempt supply of goods becomes taxable supply. [Section 18(1)(d)]
CA Abhishek Goel
(Indirect taxes )
(131 Points)
Replied 07 May 2020
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
