Please help me out !! itc capital goods

No more special process...
If You are used in furtherance of business and it's eligible is based on GST then You can claim ITC for the Capital Goods...

You can claim ITC on capital goods immediately... No other special procedure....

U can avail total ITC on capital goods on the same month,. But have to reverse the ITC attributed to exempted supply if any provided

what to do while filing ?

if you are in possession of capital goods meant for further useog your business along with the invoice take full credit in your books of accounts and show in the gstrb under ITC column

Shabeer ji

The capital goods u bought is being used in the product u sell out ???, or any exempted services u are providing by using that cpaital goods ?? can plz clarify

What about the rule to claim ITC on capital goods in 5 years ?

As Rule 44
As per the act the assume life of capital goods is 5yrs

When capital asset sold before 5 years , the itc avail & gst payble on the same is calculated as below

Let us understand with an example:-

Assets used 4yr + 6monts 15 days which is count to be 4yrs+7months (months remaining 5month un used )
Purchasing Value of Assets is Rs 50,000 + 18% of GST is (9000) = Total Value of Asset is Rs 59,000, ITC Taken = Rs 9,000

Formula : ITC X months remain / 60

So ITC of balance useful life = 9000*5/60 = Rs 750 (Amount)

Let’s assume actual consideration amount is Rs 4000. Tax calculated = 4000*18% = Rs 720 (Tax Amount)

Now comparison of Amount and Tax i.e., Rs 750 and Rs 720 respectively. The amount is higher as compared to taxes. However, the registered person under GST will have to pay Rs 750 and should be furnished in GSTR- 1 Form. Therefore, it is necessary to prepared tax invoices in this case with invoice amounting Rs 4000 plus 750 is equal to Rs 4750. However, taxable value to be furnished in the invoice, as well as GSTR – 1 Form, will be Rs. 4167. (4167 × 18%=750)

CLAIM IN SUCH A WAY AS U CLAIM FOR GOODS