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How to take input tax credit for capital good under gst

Kanika khetan (Sr. Associate) (331 Points)

08 September 2018

Hi experts,

We purchased furniture for our office and now we need to claim ITC for it. Please provide the calculation of amount to claim such ITC.

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5 Replies

(Guest)

To claim ITC, you need supporting documents like tax invoice, debit note, supplementary invoice, etc. You can claim Input Tax Credit if you have actually received some goods & services. To claim ITC, the Input Tax must be paid through electronic cash ledger or electronic credit ledger.

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Vinod Babu (24191 Points)
Replied 08 September 2018

In invoice gst amount is shown, so that amount will be your ITC, so you can show that in 3B and claim it.

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 08 September 2018

No need of Calculations, just follow the invoice raised by your supplier and check whether GST is charged or not in the invoice if, charged in the invoice then you can claim the same if your GSTIN No. is available on such invoice.

(Guest)

If party shown the details in GSTR 2A than you can claim only

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Vinod Babu (24191 Points)
Replied 09 September 2018

Yes, when the seller is uploaded his outward supplies in GSTR 1, it will be reflected in buyers's GSTR 2A. So the buyer claim such ITC reflected in GSTR2A.