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Query whether to claim itc on capital goods

kallam ashok (student) (26 Points)

08 February 2018

Dear Sir,

I want to know whether business can claim ITC on capital goods like purcahse of Car & Office Equipment.

Please guide me..

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6 Replies

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 08 February 2018

What is your Business....?

What are the Office Equipments?

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narender rawat (57 Points)
Replied 08 February 2018

Yes you can but one thing you should know that if you have claim ITC on the Capital goods so you can't claim depreciation under INCOME TAX ACT as per GST law you can avail only one Benefit either you can claim itc in GST law or either Depreciation under Income tax Act

P Dhinesh Raja Ponramu (50 Points)
Replied 08 February 2018

you can't claim ITC on purchase of car. because as per sec 17(5) of cgst act blocked the above ITC. but you can claim on ITC on office equipment if it is used for in the course of business