ITC CLAIM ON CAPITALIZE ITEMS

ITC / Input 288 views 3 replies

13 Points Joined April 2022

Can I claim Input Tax Credit (ITC) on capitalized items, and what is the law regarding this?

Replies (3)

"Do the Right Thing...!!!"

128116 Points Joined January 2015

Capitalised items...???

Can You elaborate with more details...??

Chartered Accountant in Practice

1260 Points Joined June 2019

You can claim ITC on capitalized item.

You should ensure that such credit is not blocked under section 17(5) of the CGST Act and it is not used for making exempted/non-taxable supplies.

"Do the Right Thing...!!!"

128116 Points Joined January 2015

This is already in the GST act. If understand the rules book then why ask doubt here.

So, please wait for the reply with details...

So and So flat reply or rules & provisions is not solve query...

Required and Requested for Reason and Solution

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