How to take input gst on capital goods, it will be taken in 60 months, how it wil be treated in gstr 2 and gstr 3b??
Menu
Input gst on capital goods
Replies (4)
ITC can be taken in GSTR 3B and the amount stands as (5% in every quarter)
ITC can be claim in full in one Go on same month in GSTR 3b
if you are supplying both taxable & Exempted supply the ITC attributes to Exempted supply has to be reverse every month in 3b for 60 months.
Refer rule 43 of CGST Act
if you are supplying both taxable & Exempted supply the ITC attributes to Exempted supply has to be reverse every month in 3b for 60 months.
Refer rule 43 of CGST Act
ITC has to Been taken fully.
the reverse condition is only applicable when you are dealing with both taxable and excempted goods.....
if you are dealing with both type of goods then u have to reverse ITC Month by month i.e in 60 months
the reverse condition is only applicable when you are dealing with both taxable and excempted goods.....
if you are dealing with both type of goods then u have to reverse ITC Month by month i.e in 60 months
Thanks to everyone for replying.
Recent Threads
- Refund due to change in GST Rate Tobacco Products
- Lease related query can we rent out lease ?
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
Related Threads
CAclubindia
