RULE 43 OF GST ITC ON CAPITAL GOODS


NITIN ARORA   20 September 2019

NITIN ARORA

 1 points

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HELLO EVERYONE,

                                   Can anyone please clarify me that while calculating the ITC of capital goods attributable to exempt supplies through the formula (te=tr x e/t)

 

  whether tr will include tm of capital goods at the beggining of the tax period

                                                                  or

it will include tm of capital goods at the beggining+tm of capital goods acquired during the tax period also

Languge of Rule 43:-

(f) the amount of input tax credit, at the beginning of a tax period, on all common capital goods whose useful life remains during the tax period, be denoted as ‗Tr‘ and shall be the aggregate of ‗Tm‘ for all such capital goods;

                                                            please clarify            




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