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?
3 Replies
CA. Abhilash Krishnan P
(Chartered Accountant)
(533 Points)
Replied 04 March 2022
Please elaborate is it that there was no production of goods during one year??
CA Puja Sharma
(Chartered Accountant)
(5010 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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