What is beggining of tax period-Rule 43(1)(f), Goods and Services Tax - GST

[Nitin Arora]

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 beggining 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

Languge 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 aggregate of Tm for all such capital goods; please clarify
 

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[KASTURI SETHI]

Section 2 Definition :(106) “tax period” means the period for which the return is required to 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 balance of ITC amount during previous month or quarter as applicable.

This is my view.

[Nitin Arora]

Thanx @kasturi sethi Sir