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Time limit for itc on capital goods


Phanendra (student)     20 February 2020

Phanendra
student 
 22 points

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Sir/Madam,
As per the provisions of Gst act, time limit for claiming ITC is earlier of due date of September of the next financial year or date of filing of Annual return.

Does this ITC time period limitation applies to ITC on capital goods (or) whether ITC for capital goods can be deferred over 5 years?

Kindly assist me.
Thanks in advance.

avater

Alpesh Suthar   21 February 2020

Alpesh Suthar

 2 likes  36 points

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As per section 16(4) time limit for claiming ITC is due date of september or date of filing Annual Return w.e. is earlier.

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avater

Ramaraju G   21 February 2020

Ramaraju G

 30 likes  655 points

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It's about claiming of credit time limit, it does not differentiate whether credit on inputs or capital goods.

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Anshuman Basu (account -GST)     21 February 2020

Anshuman Basu
account -GST 
 40 likes  1116 points

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ITC of capital goods take in single shoot.

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