there is a condition.
ITC to be availed within 1 year from the date of issue of tax invoice by the supplier.
that means credit in respect of capital goods also will be availed only within 1 year
but they gave ITC shall be reduced by 5 percent per quarter.
that means it can be availed even after a year.
there is a clash between these two.
please provide an answer.
CAclubindia
