Igst on capital goods
Rajkiran Ghosh (480 Points)
08 June 2018
Sir if i purchase mobile or computer for office purpose then can i carry forward igst for 5 years??? plz reply me sir....
4 Replies
Rajkiran Ghosh
(480 Points)
Replied 08 June 2018
but sir then in which type of capital goods can i carry forward my igst for 5 years...???? plz reply me
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 08 June 2018
you can claim full ITC on capital goods on its purchase date
you must be asking life of capital goods which is 5year & it's being used when if the capital being sold before 5year , or when you supplying taxable & exempted supply out of it , in that case the ITC taken on capital goods is being reverse on monthly basis attributes to exempted supply
you must be asking life of capital goods which is 5year & it's being used when if the capital being sold before 5year , or when you supplying taxable & exempted supply out of it , in that case the ITC taken on capital goods is being reverse on monthly basis attributes to exempted supply
Vinod Babu
(24191 Points)
Replied 09 June 2018
If,
1. Gst registration is regular type
2. bears the company name & Gstin
3. Gst bill is B2B
and if used in furtherance of business, then You can claim ITC for the Capital Goods...
ITC cannot be claimed for composition dealer.
1. Gst registration is regular type
2. bears the company name & Gstin
3. Gst bill is B2B
and if used in furtherance of business, then You can claim ITC for the Capital Goods...
ITC cannot be claimed for composition dealer.
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