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Igst on capital goods

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....

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4 Replies

Jatin (Accountant) (3479 Points)
Replied 08 June 2018

No, you can take ITC in single take

2 Like

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Rajkiran Ghosh (479 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

1 Like

Pankaj Rawat (GST Practitioner) (55047 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

1 Like

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 Like