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ITC on capital goods purchased for wholly taxable supplies

Others 356 views 5 replies
Whether ITC on capital goods purchased for wholly taxable sales should be taken on proportionate basis for 60 months for monthly payment and 20 quarters for quarterly payment or it can be available at a time when on the capital goods purchased. Please clarify. If yes please quote relevant section or rules.
Replies (5)

ITC on capital goods  is available if done capital goods used for furtherance of business and goods not included immovable properties ;like building and furniture fixed in building 

Agree with yash

Entire input tax credit can be availed at the time of purchase of capital goods.

You can avail the capital goods itc benefit if it's will use for furtherance of business as per section 16 of cgst Act read with rule 43
Ful itc at the time of purchase


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