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ITC on capital goods

ITC / Input 374 views 4 replies
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Student CA IPC / IPCC
270 Points Posted on 01 November 2019
can i claim full itc on capital goods in first year of purchases...CG will be used exclusively for business purposes
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On 01 November 2019 at 12:42 Report
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947 Points Posted on 01 November 2019
Yes you can claim ITC on capital good. however , ITC is not available for capital goods used exclusively for making exempted goods. further, denial of itc If depreciation has been claimed on tax component of procured capital good.
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On 01 November 2019 at 13:13
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Kkk
1204 Points Posted on 01 November 2019
Where to report itc on capital goods in Gst return
5 Reply
On 01 November 2019 at 13:18
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"Do the Right Thing...!!!"
128147 Points Posted on 01 November 2019
@ Mr Saud Ahmed.,

Yes... You can claim full ITC in single take in the same month.


@ Jyoti Narang.,

No more special columns for showing CG in GSTR 3B return.
But,
You can show the details in Annual return.
463 Reply
On 01 November 2019 at 14:49
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947 Points Posted on 02 November 2019
@ jyoti... you can show the same in table no.4 Eligible itc of return form gstr 3b
2 Reply
On 02 November 2019 at 00:01


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