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.
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Itc on capital goods
Replies (3)
If u want take ITC on capital goods then u cannot make depreciation....
in that case you must to know as per the gst law, itc rules on capital goods sec 42 & 43.
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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