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Input on capital goods

ITC / Input 397 views 9 replies
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student
39 Points Posted on 21 January 2019

can we claim input on capital goods like machinery?
if yes for how many months i have to claim?
can i utilise within year whole gst credit amount?

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On 21 January 2019 at 21:46 Report
Replies (9)
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SERVICE
1465 Points Posted on 21 January 2019
you you can claim ITC in single shot, only muchinery used for taxable supply.
1 Reply
On 21 January 2019 at 21:57
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student
39 Points Posted on 21 January 2019
thank you nitin sir
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On 21 January 2019 at 22:02
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CA Final student
7106 Points Posted on 21 January 2019
You can claim in one shot.

the revesal condition of 60 Month is only when you use capital goods for both taxable and excempted goods.
1 Reply
On 21 January 2019 at 22:26
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CA
3430 Points Posted on 21 January 2019
you cam claim itc of capital goods


but if u are exporter and supply made with out tax tax than u can also claim itc but not take refund if excess itc
1 Reply
On 21 January 2019 at 22:35
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SERVICE
1465 Points Posted on 21 January 2019
Pritesh , kindly update your information, 60 month Concept for reversal ITC when , assets removal time. not for exempted and taxable supply.
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On 21 January 2019 at 22:57
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CA Final student
7106 Points Posted on 21 January 2019
Nitin please refer rule 42&43 one time.
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On 21 January 2019 at 23:04
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SERVICE
1465 Points Posted on 21 January 2019
Mr. Sanjeev Rajpootji, You can claim for for any balance of ITC (More than 1000), from Government.
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On 21 January 2019 at 23:05
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24196 Points Posted on 22 January 2019
Yes, capital goods ITC can be fully taken in single shot if used for taxable supply in the course or furtharance of business.
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On 22 January 2019 at 00:23
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7059 Points Posted on 01 March 2019
thank you and congratulations
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On 01 March 2019 at 00:06


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