my Company Import some capital Goods for business purposes
we are pay IGST Custom Department
payment IGST amount Show in my GSTR2 or Not
21 Replies
Gaurav Goel
(82 Points)
Replied 17 September 2017
we are add 1st Year IGST ITC are Add and Claim It's Is Possible
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
Who tell you that IGST to be claim in 5 years. The whole IGST available in same year & same month
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
First clarify nature of IGST is it paid directly or in form of CVD.
Tarun Shah
(264 Points)
Replied 17 September 2017
rashmi mam pls tell about i hv purchased a c for my office as a capital goods can i claim itc on capital good fully in 1 years or 5 years.
Tarun Shah
(264 Points)
Replied 17 September 2017
if i hv supply exempt goods then apply for 5years itc on capital goods thats right?
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
no such provision in gst
Gaurav Goel
(82 Points)
Replied 17 September 2017
my total IGST around 6 Lack we are claim Total Amount in Month of August Return it's possible
Gaurav Goel
(82 Points)
Replied 17 September 2017
C. Amount of input tax referred in above points A and B must be indicated in Form GSTR-2 and however only point B will be credited to electronic credit ledger.
D. Where Capital Goods is used commonly for exempt and taxable supplies and/or business and non-business activity the credit of input no tax shall be calculated in the following manner:
Such amount shall be credited to Electronic Credit LedgerUseful life of such capital good shall be taken to be 5 years from the date of purchase
D. Where Capital Goods is used commonly for exempt and taxable supplies and/or business and non-business activity the credit of input no tax shall be calculated in the following manner:
Such amount shall be credited to Electronic Credit LedgerUseful life of such capital good shall be taken to be 5 years from the date of purchase
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
Yes you can claim whole ITC in August Return & use to set off your tax liability in upcoming months
Gaurav Goel
(82 Points)
Replied 17 September 2017
but mam as per GST Rules Total ITC Claim In 5 Year Period
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
I will clear you after clarify it
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