Shall ITC be reversed in case of sale of capital goods if they were purchased in Pre GST Regime and ITC also availed?
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Sale of capital goods
Replies (4)
sell with GST
if you have claimed ITC under tran -1/ tran-2 then you need to reverse otherwise there is no need to reverse ITC
if you pay GST on sale amount then no reversal of input credit is required
if you are selling any capital goods and credit is availed for such goods through Tran1 then you have follow reversal rule 43 and do reversal of ITC.
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