ITC on capital goods

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153 Points Posted on 20 January 2021
recently I ve purchase roller for my brick firm. do I need to calculate while claiming the itc or can I claim full itc at one time.
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On 20 January 2021 at 19:56 Report
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This discussion clarifies the process for claiming Input Tax Credit (ITC) on capital goods, specifically for a brick firm purchasing a roller. The consensus is that you can claim the full ITC at once. Any necessary apportionment or reversal of ITC, as per Section 17 of the CGST Act 2017, will be handled at a later stage.

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102 Points Posted on 20 January 2021
Claim ITC at a time
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On 20 January 2021 at 22:14
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Student
23693 Points Posted on 21 January 2021
You can claim FULL ITC at one go. Apportionment ( ITC Reversal ) in accordance to the Provision of Section 17 of the CGST Act 2017 will be done later on.
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On 21 January 2021 at 22:59

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