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ITC on capital goods given as gift

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(Querist)
17 October 2019 Dear Experts,

Please advise on the below.

I have purchased furniture for my business in year 1 and taken full ITC. In year 3 I am no longer using it and I gift it to my brother. Will I be liable to reverse the ITC to any extend?

Thanks in advance.
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
17 October 2019 You have to reverse / pay the ITC availed after reducing 5% per quarter from the month it is availed.

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