Dear Sir,
I want to know whether business can claim ITC on capital goods like purcahse of Car & Office Equipment.
Please guide me..
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Query whether to claim itc on capital goods
Replies (6)
What is your Business....?
What are the Office Equipments?
Yes you can but one thing you should know that if you have claim ITC on the Capital goods so you can't claim depreciation under INCOME TAX ACT as per GST law you can avail only one Benefit either you can claim itc in GST law or either Depreciation under Income tax Act
you can't claim ITC on purchase of car. because as per sec 17(5) of cgst act blocked the above ITC. but you can claim on ITC on office equipment if it is used for in the course of business
Sale of Cement.
Office Equipments means: Office tables, Lights & Tv
Sir how can i claim ITC . Do i claim Input all at once.
Currently for last month i do take all the input at a glance.
if any errors in return how do i modify the return in the next month.
Plz guide
Car purchase - ITC cannot be claimed
Other capital goods - ITC eligible
Input can be claimed fully immediately on receipt of tax invoice.
Other capital goods - ITC eligible
Input can be claimed fully immediately on receipt of tax invoice.
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