banner_ad

ITC Capital Goods

ITC / Input 453 views 21 replies
User Avatar

82 Points Posted on 17 September 2017
my Company Import some capital Goods for business purposes

we are pay IGST Custom Department

payment IGST amount Show in my GSTR2 or Not
1 Reply Share Follow
On 17 September 2017 at 07:34 Report
Replies (21)
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
No...........
Reply
On 17 September 2017 at 07:56
User Avatar

82 Points Posted on 17 September 2017
capital Goods IGST claim in 5 Year
Reply
On 17 September 2017 at 08:57
User Avatar

82 Points Posted on 17 September 2017
we are add 1st Year IGST ITC are Add and Claim It's Is Possible
Reply
On 17 September 2017 at 08:58
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
Who tell you that IGST to be claim in 5 years. The whole IGST available in same year & same month
Reply
On 17 September 2017 at 10:09
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
First clarify nature of IGST is it paid directly or in form of CVD.
Reply
On 17 September 2017 at 10:11
User Avatar

264 Points Posted on 17 September 2017
rashmi mam pls tell about i hv purchased a c for my office as a capital goods can i claim itc on capital good fully in 1 years or 5 years.
1 Reply
On 17 September 2017 at 13:02
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
In same year......
Reply
On 17 September 2017 at 13:30
User Avatar

264 Points Posted on 17 September 2017
if i hv supply exempt goods then apply for 5years itc on capital goods thats right?
Reply
On 17 September 2017 at 15:35
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
no such provision in gst
1 Reply
On 17 September 2017 at 16:43
User Avatar

82 Points Posted on 17 September 2017
my total IGST around 6 Lack we are claim Total Amount in Month of August Return it's possible
Reply
On 17 September 2017 at 22:44
User Avatar

82 Points Posted on 17 September 2017
C. Amount of input tax referred in above points A and B must be indicated in Form GSTR-2 and however only point B will be credited to electronic credit ledger.

D. Where Capital Goods is used commonly for exempt and taxable supplies and/or business and non-business activity the credit of input no tax shall be calculated in the following manner:

Such amount shall be credited to Electronic Credit LedgerUseful life of such capital good shall be taken to be 5 years from the date of purchase
Reply
On 17 September 2017 at 22:49
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
Yes you can claim whole ITC in August Return & use to set off your tax liability in upcoming months
Reply
On 17 September 2017 at 22:52
User Avatar

82 Points Posted on 17 September 2017
but mam as per GST Rules Total ITC Claim In 5 Year Period
Reply
On 17 September 2017 at 23:00
User Avatar

Chartered Accountant
86505 Points Posted on 17 September 2017
I will clear you after clarify it
Reply
On 17 September 2017 at 23:15


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details