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ITC on Capital Goods
How should the ITC be accounted for in case of Capital Goods , like Electrical fittings and furniture for a shop dealing in garments
Replies (3)
Yes ,.. you can claim full ITC in one installment & can be setoff against your output GST
Yes, you can claim ITC on capital goods if the invoice bears gstin and company name.
you should consider tax free supply and taxable supply,,, if ur turnover also cover tax-free supply than propsponate ITC should be reversed
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