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itc on capital goods

Tarun Shah (264 Points)

14 September 2017

pls sir itc on capital goods take one time or propration rate for 5 yr

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6 Replies

venkateswararao (paid assistant) (132 Points)
Replied 14 September 2017

one time ,you fill tran-1 2nd box then total itc will be shown in credit ledger when submitted tran-1

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mahendra sahoo (Gst Practicion) (700 Points)
Replied 14 September 2017

If we new capital goods purchased and also gst charged, when we claim credit and what amount? e. g. Purchase date 14.08.2017 and gst charged on bill 25000/-

RAJA P M ("Do the Right Thing...!!!") (128075 Points)
Replied 15 September 2017

@ Sahoo.,
You can take ITC for the Full amount (25000) In August month transactions...

RAJA P M ("Do the Right Thing...!!!") (128075 Points)
Replied 15 September 2017

@ Tarun.,
If your purchases after July you can claim full ITC on transaction month.
If it's your previous Tax regime's then you ll be file TRAN 1 then claim fully....