TMI BlogWhat is beggining of tax period-Rule 43(1)(f)X X X X Extracts X X X X X X X X Extracts X X X X ..... Can anyone please clarify me that while calculating the ITC of capital goods attributable to exempt supplies through the formula (te=tr x e/t) whether tr will include tm of capital goods at the beg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gining of the tax period whose useful life remains during the tax period or it will include tm of capital goods at the beggining+tm of capital goods acquired during the tax period also Langu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge of Rule 43:- (f) the amount of input tax credit, at the beginning of a tax period, on all common capital goods whose useful life remains during the tax period, be denoted as Tr and shall be the ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gregate of Tm for all such capital goods; please clarify - Reply By KASTURI SETHI - The Reply = Section 2 Definition :( 106) tax period means the period for which the return is required to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be furnished; Thus 'tax period' stands for quarterly or monthly. At the beginning of tax period means opening balance of ITC amount for a month or quarter. In other words, closing balan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of ITC amount during previous month or quarter as applicable. This is my view. - Reply By Nitin Arora - The Reply = Thanx @kasturi sethi Sir - What is beggining of tax period-Rule 43(1)(f) - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Query Started By: - Nitin Arora Dated:- 20-9-2019 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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