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can we use input tax credit on capital goods , to the rental income services, Goods and Services Tax - GST |
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can we use input tax credit on capital goods , to the rental income services |
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Dear Experts, one of our client is a company and it have utilised "input tax credit on Capital goods" towards the service of "rental income of the premises" during the financial year 2020-21. what is the remedy for the above problem. please need your help regarding above query Thanking you Posts / Replies Showing Replies 1 to 5 of 5 Records Page: 1
What are capital goods ?
Sir, our client is a manufacturing of apparels business, here capital goods are "plant and machinery" required for stitching machinery. Thanking You sir
The moment credit is eligible it can be utilised for paying gst on outward gst liability. There is no restriction in using ITC of capital goods for paying outward gst
There is no condition of one-to-one correlation in GST. It is also not blocked under Section 17 (5) of CGST Act.
Thank you very much sir for your valuable suggestion Page: 1 Old Query - New Comments are closed. |
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