Dear friends
One of my relative established a hospital along with Pharmacy & Diagnostic lab since 2015, registered under GST on 17/09/2017.
He is filing monthly returns (GSTR-3B/GSTR-1) regularly.
In the month of JULY 2018 , He purchased an equipment(Asset) for Diagnostic lab.
Can he eligible to claim Input tax credit on purchase of such machinery?
if eligible, Can apply for refund?
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Input tax credit under GST
Replies (3)
yes, capital asset is eligble for ITC
you can take ITC and adjust in next month this step would be better
Hmm Nice option to go through as its a capital asset and more is eligble for ITC
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