Menu
Capital goods
We were not registered in any tax act prior to GST, now registered in GST & have machines purchased in 2017 do we can get ITC on capital goods.
Replies (6)
when you are purchasing any machinery for your factory, you will pay the applicable GST rate. This GST paid can be claimed as credit in the same way as inputs.
However, if you claim depreciation on the GST paid while purchasing the capital asset, you cannot claim input tax credit.
However, if you claim depreciation on the GST paid while purchasing the capital asset, you cannot claim input tax credit.
Yes registered person will get ITC ,subject to you must use for taxable supply and only for the busniess purpose . purchase invoice should be valid GSTN , with tax amount .
If the registered person Claim depreciation on the tax compoment of the capital goods under the provisions of the income tax act 1961 , the input tax credit on the said tax component shall not be allowed .
what is the purpose of this capital good
if the capital goods used for personal or used in exempted sales No ITC wiil be available
for manufacturer of taxable goods capital goods purchased on 01/04/2017 that time we don't have TIN no. but now registered in GST and how to claim
for sanjeev verma, you can claim itc through tran 1 filing
Sir if you repair and maintenance to building in a restaurant can we claim itc
Recent Threads
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
Related Threads
CAclubindia
