https://www.taxtmi.com/forum/issue?id=118979 ITC on goods capitalised in the books is not available for capital goods procured before GST registration; Sections 18(1)(a) and (b) allow credit only for inputs held in stock on registration and exclude capitalised capital goods. ITC on capital goods is claimable only if procured after obtaining GST registration. Attempting to avoid capitalisation to claim ITC involves accounting and income tax risks and may require auditor concurrence. en-us Tue, 13 Feb 2024 16:48:01 +0530 Fri, 24 Jan 2025 10:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118979 ITC on goods capitalised in the books is not available for capital goods procured before GST registration; Sections 18(1)(a) and (b) allow credit only for inputs held in stock on registration and exclude capitalised capital goods. ITC on capital goods is claimable only if procured after obtaining GST registration. Attempting to avoid capitalisation to claim ITC involves accounting and income tax risks and may require auditor concurrence. Discussion-Forum GST Tue, 13 Feb 2024 16:48:01 +0530 https://www.taxtmi.com/forum/issue?id=118979