can we use input tax credit on capital goods , to the rental income services

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..... can we use input tax credit on capital goods , to the rental income services
Query (Issue) Started By: - lagudu sivakumar Dated:- 4-3-2022 Last Reply Date:- 7-3-2022 Goods and Services Tax - GST

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..... r>Got 5 Replies
GST
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&qu .....

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..... ot; during the financial year 2020-21. what is the remedy for the above problem. please need your help regarding above query Thanking you Reply By KASTURI SETHI: The Reply: What are capital good .....

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..... s ? Reply By lagudu sivakumar: The Reply: Sir, our client is a manufacturing of apparels business, here capital goods are "plant and machinery" required for stitching machinery. Thanking .....

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..... You sir Reply By Shilpi Jain: The Reply: 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 .....

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..... outward gst Reply By KASTURI SETHI: The Reply: There is no condition of one-to-one correlation in GST. It is also not blocked under Section 17 (5) of CGST Act. Reply By lagudu sivakumar: The Reply: .....

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..... Thank you very much sir for your valuable suggestion
Discussion Forum - Knowledge Sharing .....

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