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Wrong ITC Claimed

MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)

05 December 2019

UNFORTUNATELY WE CLAIMED ITC FOR A CAPITAL GOODS IN GSTR 3B, BUT GSTR1 NOT FILED CAN I RECTIFY THE ITC SALES?

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6 Replies

Raksha (Student CA Final ) (397 Points)
Replied 05 December 2019

Can you elaborate your query ?
As per my understanding you purchased capital goods and claimed ITC !
what is the relevance of GSTR 1 in the same?

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SOWJANYA M (840 Points)
Replied 05 December 2019

What is ITC sales🙄

gstr 1 not filed by supplier????

do the invoice contains your GSTN printed?

Sivaramaraju G (Learner) (2398 Points)
Replied 05 December 2019

You can utilise credit of input tax paid on capital goods

MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)
Replied 05 December 2019

"You can utilise credit of input tax paid on capital goods"

Ramaraju G

yes sir, 100000/- cost +18000/- tax purchased taxable capital goods as they said, now it was sale as exempted supplies..It means the instrument they buy and they freely installed in their customer place. Now It was already claimed in 3B as ITC, and sale also the same month. Is it right sir?

Sivaramaraju G (Learner) (2398 Points)
Replied 05 December 2019

I am not getting clarity on your question,

At the time of supply of capital good supplier charges GST but later he said asset you purchased is exempted from GST right??

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MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)
Replied 05 December 2019

An instrument we bought from supplier with our name displayed in that instrument for the purpose of not for sale . Then we fix to the customer end at free of cost but with some deposit ( like bsnl brodband router). Is this capital goods or not? can we claim itc or not?