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ITC ON PLANT AND MACHINERY

ITC / Input 716 views 6 replies

Our final product has been taxable w.e.f. 18/07/2022. We have installed Solar plant few months ago. Can we take ITC of Solar plant proportionate for remaining months out of 60 months. We had shown blocked credit in the month in which the Solar Plant was aquired.

Replies (6)
Used for furtherance of business.
Yes, the solar power plant is used for electricity of the same business.
Has been further held that Construction of “Solar Power Generating Plant” at roof top of the building of applicant, qualifies as “Plant ...
We have installed Solar Power Plant and received Bill Dt.28-Sep-2021 of Rs.6,48,40,000/- plus GST. Our final product was exempt like Rice. Hence, we had shown credit of GST as Blocked Credit. Now, our product has been taxable w.e.f. 18-Jul-2022. Is there any way to get ITC of Solar Power Plant purchased on 28-Sep-2021 ?
You may go by advance ruling..

Apply for advance ruling..This can be the possible way to sought info directly from GST Authorities.

Since it is debatable
File ITC-01.


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