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ITC on Capital Goods

ITC / Input 184 views 3 replies

Naveen Khanna

73 Points Posted on 24 August 2018

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)

Pankaj Rawat

GST Practitioner

55067 Points Posted on 25 August 2018

Yes ,.. you can claim full ITC in one installment & can be setoff against your output GST

Vinod Babu

24196 Points Posted on 26 August 2018

Yes, you can claim ITC on capital goods if the invoice bears gstin and company name.

Narayan Shivhare

204 Points Posted on 26 August 2018

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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