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Capital itc reversal

Vijay Baraiya (Advocate) (271 Points)

18 November 2018

How to calculate Capital reversal for 43 rule

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RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 18 November 2018

https://www.indiafilings.com/learn/rules-42-43-cgst-rules/

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Vijay Baraiya (Advocate) (271 Points)
Replied 18 November 2018

sirji is rule mai samajme nahi aata hai so Pl explain

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 18 November 2018

Read the article in the above said link. You can get some clarity...

(no Hindi)

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 18 November 2018

Monthly calculations karni padegi for capital goods over the useful life deemed to be 5 years.
For Example :
Say For a month the Total sale is 1000
Exempted sale 500
Total ITC on capital Goods is 300

1. Calculate monthly credit = 300÷60=5

2. Calculate ITC attributable to exempt supply - 5 x 500 ÷ 1000= 2.5/-

3. Reverse the 2.5/- ITC for that month

4. Pay interest as well 😂

Check rule 43(c)

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Vijay Baraiya (Advocate) (271 Points)
Replied 19 November 2018

thanks pankaj sir

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 20 November 2018

YOU ARE ALWAYS WELCOME DEAR............................................

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Vijay Baraiya (Advocate) (271 Points)
Replied 27 November 2018

Dear Sir,

How to make gst bill for service and multiple goods supply, like a electrical item gst rate 5% 12% 18% 28% and provide fitting service.

Vijay Baraiya (Advocate) (271 Points)
Replied 27 November 2018

Originally posted by : Vijay Baraiya
	Dear Sir, How to make gst bill for service and multiple goods supply, like a electrical item gst rate 5% 12% 18% 28% and provide fitting service.