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ITC availability of AMC paid for 5 years


Vipin Kumar   18 September 2020

Vipin Kumar

 7 likes  115 points

| My Other Post

can we take ITC paid on Generator for 5 years at once or we have to take it every year @ 20%

Thanks in advance

avater

Sagar Patel (Tax and Business Consultant)     18 September 2020

Sagar Patel
Tax and Business Consultant 
 984 likes  11086 points

View Profile | My Other Post

You can take total ITC at Once at time of Purchase...but if you have a taxable as well as Exempt Supplies than you are required to Reverse the Proposnate ITC taking useful life as 5 Years


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