Capital goods on gst
Sayed Nabil (385 Points)
22 November 2023Sayed Nabil (385 Points)
22 November 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 23 November 2023
Capital Goods is defined under section 2(19) of the CGST Act , Capital goods means the Value of which is Capitalised in the books of Accounts ( shown in asset side in balance sheet) and claiming input tax credit and such goods are intended to be used in the course of furtherance of business. ( please refer section 2(19) of the CGST Act )
In GSTR 9 in table 6 you have to report Capital goods brought during the year and Input tax credit claim on such assets in GSTR3B .
Sayed Nabil
(385 Points)
Replied 23 November 2023
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 23 November 2023
Money Money
(413 Points)
Replied 27 November 2023