When the credit on capital goods is allowed fully?

Whether the credit on capital goods is allowed fully at the time of purchase and to be reversed proportionately in remaining period of 60 months between exempt n taxable sale or To be allowed equally in 60 months on basis of exempt n taxable sales.

Add Comment
2 Answer(s)

No. in the very first month the credit pertaining to exempt supply to be blocked.

Answered on June 16, 2017.
Add Comment

Means credit is allowed on the basis of exempt n taxable turnover in first month.

Answered on June 16, 2017.
Add Comment

Your Answer

Gen GST