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SEC 18(4) itc reversal

ITC / Input 624 views 4 replies
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86 Points Posted on 03 March 2018
while reversing the credit of CAPITAL good u/s18(4) total life to be taken as 5 years
if asset was acquired on 9 August 2017 period of 5 years will be calculate from august month or it will be excluded??
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On 03 March 2018 at 21:09 Report
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564 Points Posted on 03 March 2018
total 20 quarters will be there and per quarter 5% will be deducted, if you sale asset today then 3 quarters will be there till today so 85% itc is to be reverses
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On 03 March 2018 at 21:17
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It is from the date of invoice. It will be allocated to 60 months starting from Aug.

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On 03 March 2018 at 21:26
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Student CA Final
11857 Points Posted on 03 March 2018
August September one quarter is calculated.... So 3 quarters in 2017-18....in GST quarters period is defined
49 Reply
On 03 March 2018 at 22:10
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7059 Points Posted on 11 August 2019
good clarification and information
33 Reply
On 11 August 2019 at 21:22


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