https://www.taxtmi.com/forum/issue?id=113747 ITC on capital goods used wholly for taxable supplies may be availed in full in the year of purchase; the one year restriction concerns only the period for taking credit, not its utilisation. If capital goods are partly used for exempt supplies or non business use, reversal or proportionate allocation applies, commonly spread over an assumed five year life, and specific GST allocation, reversal and blocked credit provisions govern the procedural mechanics. en-us Fri, 18 May 2018 02:19:51 +0530 Thu, 23 Jan 2025 15:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113747 ITC on capital goods used wholly for taxable supplies may be availed in full in the year of purchase; the one year restriction concerns only the period for taking credit, not its utilisation. If capital goods are partly used for exempt supplies or non business use, reversal or proportionate allocation applies, commonly spread over an assumed five year life, and specific GST allocation, reversal and blocked credit provisions govern the procedural mechanics. Discussion-Forum GST Fri, 18 May 2018 02:19:51 +0530 https://www.taxtmi.com/forum/issue?id=113747