there is a machine purchased
can I claim input tax credit of the same.
machine 100% used for production of taxable goods.
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 February 2018
Yes... You can claim Full ITC in the same month...
Pramod Sen
(Advocate )
(156 Points)
Replied 20 February 2018
sir actually I confused because as per rule 43
there is provision of reversal of ITC and same can b claimed in 5 years
there is provision of reversal of ITC and same can b claimed in 5 years
CA Bhavik Soni
(867 Points)
Replied 21 August 2018
in gst, you can claim 100% itc of capital goods in the same year. there is no such restrictions, subject to certain conditions
Recent Topics
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
Related Threads
CAclubindia
