28 August 2020
Sir, This August 2020 One machinery Purchased Value of Rs.10,00,000 @ GST 18% Rs.1,80,000/-, ITC Eligible to claim Rs.1,80,000/- for this August ? or any restriction to claim ITC ? if restricted how many years and Percentages ? Please guide me and Thanks in advance
29 August 2020
If this Machinery is used for business purpose only, you can claim the full ITC in tax period of Aug 2020 GSTR-3B return, subject to invoice is paid within 180 days.
CAclubindia
