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TMI Blogcan we use input tax credit on capital goods , to the rental income servicesX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 during the financial year 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0-21. 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 goods ? - Reply By lagudu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sivakumar - The Reply = Sir, our client is a manufacturing of apparels business, here capital goods are plant and machinery required for stitching machinery. Thanking You sir - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 outward gst - R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply 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 = T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hank you very much sir for your valuable suggestion - can we use input tax credit on capital goods , to the rental income services - Query Started By: - lagudu sivakumar Dated:- 4-3-2022 Goods and S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervices Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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