We are private limited company. We have purchased computers for our company for which we have received invoices including IGST. Can we take input credit on this purchases? How should we book invoices of fixed in accounts?
We are private limited company. We have purchased computers for our company for which we have received invoices including IGST. Can we take input credit on this purchases? How should we book invoices of fixed in accounts?
Yes, you can take input tax credit on the taxable amount fully at a time. just like input on purchases and input services. No input available on goods and services whose covered in Section 17(5) of GST Act 2016.
Team: Carocks.blog
How can we adjust excess IGST?
Excess IGST will be adjusted in next month liablity against IGST, CGST and then SGST Payments in a same order.
Team: carocks.blog
Gupta Sachdeva & Co. Chartered Accountants
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