Treatmentment of fixed assets in gstr 3B

299 views
User Avatar

176 Points Posted on 08 May 2021
treatment of captal goods in gstr 3 b when tax also capitalised
0 Reply Share Follow
On 08 May 2021 at 13:06 Report
Replies (5)
Quick Summary
This discussion clarifies the treatment of capital goods and fixed assets within GSTR 3B. It explains that if tax is capitalised, Input Tax Credit (ITC) cannot be claimed. However, for GSTR2 reconciliation, one can claim and then reverse the ITC within the same return. Reporting these items in 3B is generally not required, and claiming depreciation on reversed ITC is not permissible.

User Avatar

309 Points Posted on 09 May 2021
Nothing, in that case you cannot claim ITC, but if you want to reconcile with GSTR2 then first claim, and then reverse the same in the same return
1 Reply
On 09 May 2021 at 00:01
User Avatar

GST Practitioner
55067 Points Posted on 09 May 2021
Not required to report in 3B
2 Reply
On 09 May 2021 at 01:44
User Avatar

Practice
1361 Points Posted on 09 May 2021
Agree with Mujeeb ji
1 Reply
On 09 May 2021 at 09:06
User Avatar

176 Points Posted on 09 May 2021
Sir agar 3b mein itc ke baad reverse karta hue to kya us itc per dep. mil jayega
1 Reply
On 09 May 2021 at 09:22
User Avatar

Chartered Accountant
24588 Points Posted on 09 May 2021
No it's not possible
1 Reply
On 09 May 2021 at 09:46

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Company 3 months old, INC-20A not filed, all 3 of
  2. How do I choose the Best GST Lawyers in New Delhi
  3. Loss on sale of residential flat after indexing al
  4. Short Deduction
  5. Large mismatch between AIS Business Receipts and G
  6. Income tax on Australian Stipendiary Steward on 3
  7. INCOME TAX SECTION 92E
  8. Queries on Tax Invoice and GST
  9. Income Tax Auditor Tenure for Small Companies
  10. Sec 8 company sec 12ab reg

More recent discussions | Post

Related Topics :

Loading