hi friends.
can i apply refund ITC on capital goods...if it not utilised throughout the year......if yes than what is the time line for claiming the refund of ITC on capital goods...
Thanks....
Bijay
yes you can claim ITC on capital goods in the year of purchase if you have not calimed depreciation on tax component of gst.
Time limit for avaling itc as per section 16(4) will be date of furnishing gst annual return(31st december) or 20th october of next FY which ever is earlier.
CAclubindia
