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How can I claim itc on capital goods
whether divide by 60 months or lump sum amount
Replies (5)
Quick Summary
Divide by 60 months
Hello Shivam
We can take ITC of capital goods as lump sum amount . In GST there is no requirement to bifurcate the ITC over the periods.
Provided ITC is allowed as per section 16 and should not be blocked u/s 17(5).
you can read the above sections for more details
We can take ITC of capital goods as lump sum amount . In GST there is no requirement to bifurcate the ITC over the periods.
Provided ITC is allowed as per section 16 and should not be blocked u/s 17(5).
you can read the above sections for more details
The procedure for reversal of ITC is provided under Rule 42/43 . Go through it first .
For reversal, one should go as per Rule 42/43 means divide by 60 months.
But for availement , can take lumpsum
But for availement , can take lumpsum
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