Menu
input tax credit
is machinery included in capital goods?
Replies (4)
Yes......................
Yes it's included in capital good / fixed assets
Yes, machinery included in capital goods.
As per SECTION 2(19) of CGST Act 2017, Capital Goods means "Goods,the value of which is capitalised in the books of Accounts of the person claiming input tax credit and which is used or to be used in the course or furtherance of business".
Hence, as per the given definition, Machinery is treated as a Capital Goods.
Hence, as per the given definition, Machinery is treated as a Capital Goods.
Recent Topics :
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
Related Topics :
CAclubindia
