Sale of capital goods

Divya Agrawal (Student) (26 Points)

23 August 2019

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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RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 23 August 2019

sell with GST

Shweta Gupta (Assistant Manager) (224 Points)
Replied 23 August 2019

if you have claimed ITC under tran -1/ tran-2 then you need to reverse otherwise there is no need to reverse ITC

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sujith kumar dasa (banglore) (1496 Points)
Replied 23 August 2019

if you pay GST on sale amount then no reversal of input credit is required

Uttam (employee) (814 Points)
Replied 07 September 2019

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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