purchased goods vehicle for business ,and claimed ITC
and after 1 year vehicle sold, then can i reverse entire ITC claimed??
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??
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
