ITC Reversal
Piyush Gupta (icai) (52 Points)
15 September 2020
What is the procedure of itc reversal of capital goods in case of cancellation of gst on account of closure of business?
1 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 17 September 2020
You are required to Reverse the Proportionate ITC for remaining useful life of capital Goods (taking 5 Year as useful life) in form GSTR 10 final Return to be filed after cancellation of Registration.
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
