Pradeep kumar T V (Ops Executive) (87 Points)
22 February 2019Hi All,
Good afternoon and have a great day ahead!
I would like to know, if a co. purchase capital goods (ex. furniture/computer) for office use, can the co. is eligible to take ITC for purchase of capital goods?
If Yes, please confirm with under which section of GST gives clarification for the same.
With advance thanks
Pradeep Kumar T V
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 22 February 2019
yes you can claim gst inputs all in once on capital goods
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 22 February 2019
subject to use of furtherance of business .
pritesh
(CA Final student)
(7101 Points)
Replied 22 February 2019
Anshuman Basu
(account -GST)
(1556 Points)
Replied 22 February 2019
Ashwin Kumar
(1234 Points)
Replied 22 February 2019
ITC is available on capital used in the course of furtherance of business. but the depreciation on ITC element will not be available and if you sell the goods within a short period then the respective amount of ITC should be reversed.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 22 February 2019
CAclubindia
