GST credit on capital goods
Pravin Kumar Bansal (4 Points)
13 September 2017
how to claim. gst credit on capital good I.e vehicles
Pravin Kumar Bansal (4 Points)
13 September 2017
Harsh Surana
(Chartered Accountant)
(51 Points)
Replied 13 September 2017
No Credit is allowed for Vehicles as same has been not allowed by GST u/s 17 blocked credit and for other capital goods same can be claimed in the same year.
anonymous
(student)
(750 Points)
Replied 13 September 2017
https://cleartax.in/s/itc-rules-capital-goods-gst
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 13 September 2017
FIXED ASSETS purchased for the business purpose is allowable for either (1) full itc credit can be taken in the year of purchase OR (2) claim as depreciation in ITA , 1961
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