Capital Goods Purchased should be used for atleast 60 months

If they are disposed of before 60 months/business closed within 60 months,Input taken has to be reversed

 

Q1 - Suppose Machine Purchased on 19 July 2017 as follows

PARTICULARS AMT
MACHINE 100000
CGST 9000
SGST 9000
TOTAL 118000

IT IS DISPLOSED ON 23 OCT 2017

View Answer

 

Q2 - Suppose Machine Purchased on 19 July 2017 as follows

PARTICULARS AMT
MACHINE 100000
CGST 9000
SGST 9000
TOTAL 118000

IT IS DISPLOSED ON 23 OCT 2022

View Answer
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.