gst on capital goods
Shital81 Trivedi (39 Points)
04 August 2017
Can I get input credit of gst paid for purchase of capital goods?
3 Replies
SRIRANGA PRASATH
(Student CA Final )
(57 Points)
Replied 04 August 2017
A. Credit of Input Tax will not be available on the following:
i. Capital Goods used exclusively for effecting exempt supplies
ii. Capital Goods used exclusively for non-business (personal) activity
B. Credit of Input Tax will be available in totality where Capital Goods have been used for effecting taxable supplies and business activity without any restrictions
i. Capital Goods used exclusively for effecting exempt supplies
ii. Capital Goods used exclusively for non-business (personal) activity
B. Credit of Input Tax will be available in totality where Capital Goods have been used for effecting taxable supplies and business activity without any restrictions
SRIRANGA PRASATH
(Student CA Final )
(57 Points)
Replied 04 August 2017
A. Credit of Input Tax will not be available on the following:
i. Capital Goods used exclusively for effecting exempt supplies
ii. Capital Goods used exclusively for non-business (personal) activity
B. Credit of Input Tax will be available in totality where Capital Goods have been used for effecting taxable supplies and business activity without any restrictions
i. Capital Goods used exclusively for effecting exempt supplies
ii. Capital Goods used exclusively for non-business (personal) activity
B. Credit of Input Tax will be available in totality where Capital Goods have been used for effecting taxable supplies and business activity without any restrictions
Vijay Bhand
(338 Points)
Replied 04 August 2017
yes, can be avail. but tax portion should not capitalized.
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