Whether credit on capital goods can be taken immediately on receipt of – McqOptions

MCQOPTIONS

1.	Whether credit on capital goods can be taken immediately on receipt of the goods?%!
A.	Yes
B.	After usage of such capital goods
C.	After capitalizing in books of Accounts
D.	None of the above
Answer» B. After usage of such capital goods

Discussion

No Comment Found

Related MCQs

Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case supply involves movement of goods. Date of Removal of goods : 05-11-2019 Date of Invoice : 04-11-2019 Date goods made available to recipient : 06-11-2019 Date of receipt of payment : 01-10-2019
specifies the activities to be treated as supply even if made without Consideration
Transportation of passengers exempted if -
Services by a hotel, inn, guest house, club or campsite are exempted for residential / lodgingpurposes -
The place of supply of services provided by way of admission to a cultural, artistic, sporting, scientific, educational, entertainment event or amusement park or any other place and services ancillary thereto shall be the
The functions performed by the Members of Parliament, Members of State Legislature, Membersof Panchayats, Members of Municipalities and Members of other local authorities shall be treated as .
To avail input tax credit, which of the following factors is not relevant ?
A casual taxable person or a non-resident taxable person shall be required to apply for registrationat least days prior to the commencement of business.
What is the rate of interest in case of undue or excess claim of ITC ?
ITC can be claimed by a registered person for