itc on capital goods used exclusively for taxable supply incude zero rated supply
above capital goods not used in exempt supply
can I take full itc in same year
good sold by me include taxable ,zero rated , exempt goods
but capital goods used for taxable supply include zero rated
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itc on capital goods
Replies (4)
Yes since the capital goods is for taxable supply and zero rated supply, you are eligible to take the whole credit in the year of purchase itself.
This is direct credit used exclusively for taxable supply as per law and not common credit, so no question of reversal for exempt supply.
Yes. You can take full ITC in same year.
sir if i purchase machinery and i wish to use this machine to produce taxable supply goods...In that case will i get full input tax credit in the same month of the purchase of machine????sir plz reply me.
Yes you can take the credit.
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