JCB bought in October 2018 and GST paid Rs800000 /-
can it is claimed in next month of return ?
the tax liability is Rs15000/- can it be adjusted from said ITC?
what's the procedure to claim this type of ITC
pl guide.
thanks.
3 Replies
Venkatesh K N
(student)
(178 Points)
Replied 12 December 2018
If u want take ITC on capital goods then u cannot make depreciation....
Avirup Ghosh
(26 Points)
Replied 12 December 2018
in that case you must to know as per the gst law, itc rules on capital goods sec 42 & 43.
Prajwal Shetty
(Artical Assistent)
(237 Points)
Replied 13 December 2018
If the JCB is used for only taxable supply (not for exempt or personal use)then you can claim the full ITC for October 18 month return.
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