GSTGST credit on new machinery purchased, Goods and Services Tax - GST

[Sahadev Maity]

Dear experts,

I am going to start a new factory, for the I need to buy some machineris from outer state of Rs around 30lacs. Previous CST was 2% but now GST is 18% on purchase of machinery.

So kindly advice me, can I avail the GST credit on purchase of that machinery if yes then how?

I would be very grateful to u all.

Thanks & regards,

sahadev Maity

mob-9654621194

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Posts / Replies

[KASTURI SETHI]

Wait for new GST Credit Rules.

[MUKUND THAKKAR]

Yes,

Under GST Regime you are eligible to take GST credit of purchase the Machinery. but condition is you should be Capitalized machinery in your books of account as a capital goods and take 100% ITC.

[KASTURI SETHI]

I support the views of Sh.Mukund Thanks, Sir.

[Sahadev Maity]

Thank you all 🙏🏻

[Ramesh Kothari]

Yes I can avail GST on CG and same utilize at the time of dispatch of material in same year