ITC on Capital Goods

[Asked by Guest]

Sir / Madam,

We have purchased Mobile Phones & Computers for our firm.

Can i take ITC on Mobile Phone & Computers in one installment.

What is SAC for Commercial Training & Coaching Centre

Regards,

Jatin Kumar

[Rajagopalan Ranganathan]

Sir,

If the mobile phones andf computers are used in the course of or furtherance of business you can take the ITC. If they are for personal use then ITC is not allowed.

SAC for commercial training and coaching service is 999293.

Thank you very much Rajagopalan Sir,

We are used Mobile Phones & Computers for furtherance of business.

Can i take ITC on Capital Goods in one instalment (Full ITC take in the month of purchase)

Regards,

Jatin

[KASTURI SETHI]

Full credit on capital goods is admissible.

[Ganeshan Kalyani]

No such restrictions as like in previous tax regime. Full credit is allowed.

[koushal sharma]

Mobile Phone & Computers for business use you can take ITC, otherwise for personal use not necessary ITC.

SAC Code for Commercial Training & Coaching Centre is 999293 with 18% GST Rate.

know more about GST related question and answer just click on GST Forum India

Thank you very much all experts for your prompt replies.

AI Summary

Input Tax Credit on capital goods permitted in full in one instalment when assets are used for business use.
Input Tax Credit on mobile phones and computers is allowed when used for business and not allowed for personal use. Capital goods attract full input tax credit, which may be taken in one instalment on purchase, without the previous regime's restrictions. The Service Accounting Code for commercial training and coaching services is 999293.