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ITC on machinery
we are in the business of coffee shop. for preparing coffee, etc... we have purchased some kitchen tools like mixer, etc..... shall I consider them as capital goods and avail ITC or not? Because we opted for 5% rate without ITC instead of 18 with ITC. Since we can avail ITC on capital goods with 5%rate also. please help me to treat wether such kind of purchases comes under capital goods as per GST act??
Replies (4)
Quick Summary
Are You opt Composition scheme...?
No we are under regular scheme only... but there is option of 5% without ITC
You are opt 5% Tax rate without ITC. Then You can't avail ITC also in the Machinery...😔😔
No we are under regular scheme only... but there is option of 5% without ITC
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