Itc credit of capital goods - truck

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2017 Dear Sir,
In gst regime, Whether an assesse can claim ITC paid on capital goods - truck.
If yes then in how many installment it can be claimed ?

RAJA P M

RAJA P M (Expert)
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26 July 2017 what is your nature of business....?

The truck is only Fixed Asset except Transport Businesses...
Can't take ITC on GST even any previous Tax Regime...

If you are doing Transport business you can take ITC on full amount under GST. But, Can't claim Depreciation In IT...