We take ITC on capital Goods and 4 year we not produce one year. So can we eligible for full five year ITC claim or reverse one year ITC?
Parth Darji (sr.accountant) (32 Points)
04 March 2022We take ITC on capital Goods and 4 year we not produce one year. So can we eligible for full five year ITC claim or reverse one year ITC?
CA. Abhilash Krishnan P
(Chartered Accountant)
(529 Points)
Replied 04 March 2022
CA Puja Sharma
(Chartered Accountant)
(4972 Points)
Replied 05 March 2022
Yes, even if there was no production in the last FY, you are still eligible for the ITC because you are still continuing the business.
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