Holi Offer: 10% OFF on CAclubindia Pro. Subscribe Now! Use Code: HOLIPRO10

How to take input tax credit for capital good under gst

ITC / Input 168 views 5 replies

Kanika khetan

Sr. Associate

331 Points Joined May 2015

Hi experts,

We purchased furniture for our office and now we need to claim ITC for it. Please provide the calculation of amount to claim such ITC.

Replies (5)

Guest

To claim ITC, you need supporting documents like tax invoice, debit note, supplementary invoice, etc. You can claim Input Tax Credit if you have actually received some goods & services. To claim ITC, the Input Tax must be paid through electronic cash ledger or electronic credit ledger.

Vinod Babu

24196 Points Joined May 2018

In invoice gst amount is shown, so that amount will be your ITC, so you can show that in 3B and claim it.

Rohit Tibrewal

Student

3193 Points Joined February 2011

No need of Calculations, just follow the invoice raised by your supplier and check whether GST is charged or not in the invoice if, charged in the invoice then you can claim the same if your GSTIN No. is available on such invoice.

Guest

If party shown the details in GSTR 2A than you can claim only

Vinod Babu

24196 Points Joined May 2018

Yes, when the seller is uploaded his outward supplies in GSTR 1, it will be reflected in buyers's GSTR 2A. So the buyer claim such ITC reflected in GSTR2A.