Is Input tax to be reversed in case of supply of capital goods

Question

Options:

A . Yes fully

B . No

C . Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher

D . Yes to the extent of transaction value of such goods

Answer: Option C

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More Questions on This Topic :

Question 1. The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply....

Question 2. The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply....

Question 3. A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger....in the return and credited to Electronic credit ledger on

Question 4. Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker direc....and has been sent to job worker directly by vendor

Question 5. Provisional Input tax credit can be utilized against....

Question 6. Matching of Input Tax credit on inward supply by recipient is undertaken with....

Question 7. If there is Mis-match of supplier’s outward supply and recipient’s claim for Input Tax credit on the same transactio....recipient’s claim for Input Tax credit on the same transaction

Question 8. Input Tax credit as credited in Electronic Credit ledger can be utilized for....

Question 9. Tax invoice must be issued by________....

Question 10. A bill of supply can be issued in case of inter-State and intra-State:....

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