https://www.taxtmi.com/forum/issue?id=112609 Whether input tax credit is allowable for capital goods in transit is contested: Section 140(5) covers inputs and input services but omits capital goods, while Section 140(2) permits claiming unavailed CENVAT credit for capital goods carried forward if such credit was admissible under the existing law and meets CGST admissibility; transitional rules require itemised disclosure of amounts availed and unavailed as on the appointed day. Practice and an FAQ indicate non-availability in many views, though some regard the omission as inadvertent and advise seeking administrative remedy. en-us Wed, 16 Aug 2017 15:26:28 +0530 Thu, 23 Jan 2025 15:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112609 Whether input tax credit is allowable for capital goods in transit is contested: Section 140(5) covers inputs and input services but omits capital goods, while Section 140(2) permits claiming unavailed CENVAT credit for capital goods carried forward if such credit was admissible under the existing law and meets CGST admissibility; transitional rules require itemised disclosure of amounts availed and unavailed as on the appointed day. Practice and an FAQ indicate non-availability in many views, though some regard the omission as inadvertent and advise seeking administrative remedy. Discussion-Forum GST Wed, 16 Aug 2017 15:26:28 +0530 https://www.taxtmi.com/forum/issue?id=112609