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ITC on fixed assets
Sir, v have purchased fixed assets and claimed gst input in monthly returns. will it be disallowed while filing annual returns under gst act?
Replies (3)
Quick Summary
ITC on fixed assets eligible to claim. however, the ITC shall not be an blocked ITC as per 17(5) of the act
No..... ITC on fixed asset except (car) prescribed in section 17(5) is allowed.
so no need reverse.
so no need reverse.
input tax credit allowed on Fixed Assets at once (100%)
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