my Company Import some capital Goods for business purposes
we are pay IGST Custom Department
payment IGST amount Show in my GSTR2 or Not
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ITC Capital Goods
Replies (21)
No...........
capital Goods IGST claim in 5 Year
we are add 1st Year IGST ITC are Add and Claim It's Is Possible
Who tell you that IGST to be claim in 5 years. The whole IGST available in same year & same month
First clarify nature of IGST is it paid directly or in form of CVD.
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.
In same year......
if i hv supply exempt goods then apply for 5years itc on capital goods thats right?
no such provision in gst
my total IGST around 6 Lack we are claim Total Amount in Month of August Return it's possible
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
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
Yes you can claim whole ITC in August Return & use to set off your tax liability in upcoming months
but mam as per GST Rules Total ITC Claim In 5 Year Period
I will clear you after clarify it
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