By virtue of Section 18(2) of the CGST Act 2017, A registered person shall not be entitled to take input tax credit under sub-section [1] in respect of any "supply of goods or services or both" to him after the expiry of one year from the date of issue of tax invoice relating to such supply.
Is this applicable for Capital Goods as well ? Is it 1 year or 5 years for Capital Goods ???
Dear Shivam :
If you refer the Sub Section (1) its say" Input tax Credit in respect of INPUTS held in stock "
&
If we refer the defination of INPUT prescribe in section 2(59) : input means goods other than Capital Goods
Hence it does not include capital Goods
CAclubindia
