ITC - Capital GOODS

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Accountant
90 Points Posted on 17 November 2021

Dear Experts,

Capital Goods Input Tax Credit shall i utilize fully in same month GSTreturn..?

Thanks & Regards

Fareed

 

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On 17 November 2021 at 17:11 Report
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Quick Summary
This discussion clarifies the rules around claiming Input Tax Credit (ITC) for capital goods under GST. Experts confirm that you can indeed claim ITC for capital goods in the same month they are purchased. However, the utilisation of this credit is subject to specific conditions, particularly if you intend to sell the capital goods later.

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GST Consultant
15986 Points Posted on 18 November 2021

Yes you can claim ITC in the same month and use it as per your need

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On 18 November 2021 at 08:17
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Accountant
90 Points Posted on 18 November 2021

Thanks for your guidance..!

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On 18 November 2021 at 10:53
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435 Points Posted on 18 November 2021
If u further sale capital goods then u r only eligiblefor ITC.... otherwise no ITC will be taken...
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On 18 November 2021 at 14:02

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