Query —
What shall be the procedure of availing of ITC on second hand capital good purchased under GST law?
Mr A sold a machinery of useful life of 5 years as per GST to Mr B after using it for 3 years.
Now in the hands of Mr B the useful life for the purchased machinery shall considered to be...?
a) 2 years i.e. remaining years, or,
b) 5 years again in the hand of Mr B
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ITC and useful life of second hand capital good in the hands of buyer
Replies (3)
Quick Summary
B) 5 years. again in the hand of Mr B
Any case law or else to support this.
Can refer Rule 43 of CGSt Act
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