Treatmentment of fixed assets in gstr 3B

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20 Points Posted on 08 May 2021
treatment of captal goods in gstr 3 b when tax also capitalised
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On 08 May 2021 at 13:06 Report
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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.

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20 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
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On 09 May 2021 at 00:01
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GST Practitioner
20 Points Posted on 09 May 2021
Not required to report in 3B
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On 09 May 2021 at 01:44
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Practice
20 Points Posted on 09 May 2021
Agree with Mujeeb ji
1 Reply
On 09 May 2021 at 09:06
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20 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
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Chartered Accountant
20 Points Posted on 09 May 2021
No it's not possible
1 Reply
On 09 May 2021 at 09:46

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