ITC OF CAPITAL GOODS
LAW STUDIO ASSOCIATES (252 Points)
01 October 2020
capital goods ki itc kaise claim karte hai ek saath claim karni hoti hai ya fir thodi thodi karke claim ki jati hai
4 Replies
Nidhi
(Chief Accountant)
(3150 Points)
Replied 02 October 2020
You have to claim full ITC of capital goods like any other Goods in 3b return
Pawan
(CA Final)
(572 Points)
Replied 02 October 2020
Section 16 of CGST Act, 2017 doesn't make distinction between Capital goods and Other goods for allowing ITC. You can claim complete ITC at once but no depreciation on such ITC on Capital Goods should have been claimed under Income Tax act. If depreciation is claimed on such tax component ITC will not be allowed under section 16(3).
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 02 October 2020
Capital Goods ki ITC, Purchase ke time pe ek saath hi claim karni hoti hai.
Same like claim of ITC on any others Goods.
Same like claim of ITC on any others Goods.
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 02 October 2020
you can claim ITC capital goods in 3b return
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