ITC on Capital Goods
Ajai Sharma (13 Points)
19 April 2020
if a capital goods destroyed after claiming itc then what is treatment of itc
3 Replies
Durga Prasad
(97 Points)
Replied 20 April 2020
As per cgst rules itc 5% per quarter have to be reversed .
This reversal itc added to your output tax liability ledger .
This reversal itc added to your output tax liability ledger .
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 20 April 2020
reverse the ITC - BLOCKED CREDITS - SEC 17(5)
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