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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Input on capital goods
Replies (9)
you you can claim ITC in single shot, only muchinery used for taxable supply.
thank you nitin sir
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.
the revesal condition of 60 Month is only when you use capital goods for both taxable and excempted goods.
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
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
Pritesh , kindly update your information, 60 month Concept for reversal ITC when , assets removal time. not for exempted and taxable supply.
Nitin please refer rule 42&43 one time.
Mr. Sanjeev Rajpootji, You can claim for for any balance of ITC (More than 1000), from Government.
Yes, capital goods ITC can be fully taken in single shot if used for taxable supply in the course or furtharance of business.
thank you and congratulations
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