banner_ad

ITC on Capital goods

ITC / Input 3818 views 4 replies
A generator (DG set) has been purchased for the purpose of business...And transportation charges also separately invoiced....

how to claim ITC ...whether on full or ITC ÷ 60
Replies (4)
we can ITC 100%
you can avail full ITC
Yes you can take ITC when used for business purpose. 
As per Section 2(19) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term 'capital goods' means goods, the value of which is capitalized in the books of accounts of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business.

For taking ITC., following should also be satisfied 

1. Gst registration should be regular type 
2. Invoice bill should bears the company name & Gstin
3. Gst  bill should be of B2B

Yes you can claim full ITC at the time of purchase of generator... But if you sold that capital asset before the expiry of 5 years The ITC Shall be reverse to the Department On the basis of Turnover.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details