Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
+ Post a Query
Post a New Query
Title :
0/200 char
Description :
Max 0 char
Category :
Delete Reply

Are you sure you want to delete your reply beginning with '' ?

Delete Issue

Are you sure you want to delete your Issue titled: '' ?

Discussion Forum

Back

All Issues

Advanced Search
Reset Filters
Search By:
Search by Text :
Press 'Enter' to add multiple search terms
Select Date:
FromTo
Category :
OR
Search by Issue ID:
NOTE: If you have inputs in both the fields, then results will be shown for issueId first.
Issue ID :

What is beggining of tax period-Rule 43(1)(f)

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
 

Clarification on ITC Calculation for Capital Goods Under GST Rule 43(1)(f): Understanding Tax Periods and Opening Balances. A discussion on a forum addresses a query about calculating Input Tax Credit (ITC) for capital goods under Goods and Services Tax (GST) Rule 43(1)(f). The original question seeks clarification on whether the calculation should include only the capital goods at the beginning of the tax period or also those acquired during the period. A respondent clarifies that the 'tax period' refers to the period for which returns are filed, either monthly or quarterly, and that the beginning of the tax period means the opening balance of ITC, equivalent to the closing balance from the previous period. (AI Summary)
answers
Sort by
+ Add A New Reply
Hide
+ Add A New Reply
Hide
Recent Issues