Proportinate itc concept in gst on sale on used car
Query (Issue) Started By: – Shubham Porwal Dated:- 28-5-2018 Last Reply Date:- 1-6-2018 Goods and Services Tax – GST
Got 8 Replies
GST
Hello everyone… I am new user here …please help me …! If one purchased furniture for rs 1lac and gst 28,000 total 1,28,000 and sold it just after 2years… what shall be the impact on itc …will it be claimable upto rs 28,000 or any proportionate reduction should be made …..?
Please reply….!
Thanks
Shubham
Reply By Alkesh Jani:
The Reply:
Sir,
If purchased furniture is booked as capital goods in your books of Account, than 5 point per quarter is to be reduced.
If not booked as capital goods, then it is normal supply.
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