Rana Ghosh (Tax Consultant) (63 Points)
13 March 2018Dear Sir/Madam,
Yesterday we have bought a new Air Conditioner for office use.
Can we avail the ITC benifit for the amount which was already paid at the time of purchases.
abhilash
(student)
(411 Points)
Replied 13 March 2018
YES YOU CAN CLAIM ITC ON YOUR PURCHASE PROVIDED IF YOU HAVE NOT CLAIMED DEPRECIATION ON TAX COMPONENT OF AIR CONDITIONER
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 13 March 2018
Mukesh Kumar
(Accounts Manager)
(1466 Points)
Replied 13 March 2018
NO ITC AVAIL : IF
1. GOOD UES FOR PERSONAL ,
2 GOODS USES FOR EXEMPT GOODS PRODUCTION
3. CLAIM DEPT OF GOODS
YES ITC AVAIL :
ABOVE VICE VERSA
umamaheshwaran
(articled clerk)
(52 Points)
Replied 13 March 2018
if the same asset sold within lifeterm how to effect in GST since its we utilised GST INput
umamaheshwaran
(articled clerk)
(52 Points)
Replied 14 March 2018
if one assessee claimed input on capital goods , but within financial year it get sold , then what about the input we claimed and is there any reverse methods
Rahul Prajapati
(Student)
(2282 Points)
Replied 28 April 2018
You can take full ITC in next month GSTR-3B
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 28 April 2018
umamaheshwaran
(articled clerk)
(52 Points)
Replied 28 April 2018
but if the asset which you utilised the input credit will be reversed if it get sold within 5 years from date of purchase .i.e 5 percent per quarter to be reversed .if anything doubt on this please reply me
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 28 April 2018
| Originally posted by : umamaheshwaran | ||
 |
but if the asset which you utilised the input credit will be reversed if it get sold within 5 years from date of purchase .i.e 5 percent per quarter to be reversed .if anything doubt on this please reply me |  |
Nothing...
If he want sell his goods then He can with GST...
CAclubindia
