regarding plant & machinery ITC
D.Srinivasulu (B.SC) (201 Points)
19 January 2019D.Srinivasulu (B.SC) (201 Points)
19 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 19 January 2019
Yes, you can claim ITC over 60 momths i.e 5 years.
Kamal Jain
(Student CA Final )
(111 Points)
Replied 19 January 2019
Pankaj Rawat
(GST Practitioner)
(55025 Points)
Replied 19 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 19 January 2019
ITC on capital goods cannot be claimed fully in one period.
It has to be claimed over 60months.
pritesh
(CA Final student)
(7101 Points)
Replied 19 January 2019
Pankaj Rawat
(GST Practitioner)
(55025 Points)
Replied 19 January 2019
kishor budhadev
(service)
(29 Points)
Replied 21 January 2019
As per GST Law, If capital goods are used in business purposes you may claim 100% credit. If your capital goods are used exclusively for non business purposes shall not be eligible for credit.
Further, if your capital goods are partly used for the purposes of business and partly for other purposes the information is given below.
D.Srinivasulu
(B.SC)
(201 Points)
Replied 05 February 2019