Welcome to your Ch 21: Input Tax Credit (1 to 5)
1. As per section 2(59) of CGST Act 2017 “Input” means:
2. As per section 2(60) of CGST Act 2017 “Input Service” means:
3. As per section 2(19) of CGST Act 2017 “Capital Goods” means goods:
4. Is it mandatory to capitalize the value of goods in books of accounts?
5. Examine the following statements
(i) Machinery purchased and capitalised in the books of accounts is……….
(ii) Computer purchased and not capitalised in the books of accounts is……….
