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gst on converting purchased inventory into capital goods
if i purchase a stock and claim itc and the next month, i convert it into my capital asset or for some other office use, should i reverse my gst return or use any specific form in gst
Replies (2)
eligibility for for availing itc no difference between input and capital goods. no reversal required. same is the case between input used as stock and same used for office use. pl ref sec 17(5) for itc ineligibility
thank you madhavan sir
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