Capital goods were brought in the factory on 1-10-2017 worth 110,00,000 on which IGST of 18% was paid. These capital goods were sold at 17,80,000 on 2-2-2019. The ITC to be reversed is
A. Nil
B. ₹ 1,26,000
C. ₹ 1,40,000
D. None of the above
Answer:C
Capital goods were brought in the factory on 1-10-2017 worth 110,00,000 on which IGST of 18% was paid. These capital goods were sold at 17,80,000 on 2-2-2019. The ITC to be reversed is
A. Nil B. ₹ 1,26,000 C. ₹ 1,40,000 D. None of the above