purchased goods vehicle for business ,and claimed ITC
and after 1 year vehicle sold, then can i reverse entire ITC claimed??
2 Replies
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 06 March 2021
Yes you should reverse the ITC. ITC pertaining to remaining useful life of the asset should be reversed.
Jishad T
(GSTP)
(289 Points)
Replied 08 March 2021
CAN I REVERSE it through DRC-03
OR GSTR1 ( Actual sale entry of vehicle)
wich one is correct??
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