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Itc on office furniture in gst

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(Querist)
14 May 2018 Dear Experts,

Can we take ITC on Office Furniture & Fixture under CGST Act, 2017?
If yes, so in which head it should be capitalized either in Plant & Machinery or
in Furniture & Fixture.

I am so confused from Section 17(5).

Please advise.
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Kalam

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Kalam (Expert)
14 May 2018 You can take ITC on office furniture. It is not under blocked credit. Once you take ITC, you cannot capitalise the same.
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Rakesh Sharma

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Rakesh Sharma (Querist)
14 May 2018 Sir, where we show the office furniture, in Balance sheet or in P & L?



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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
14 May 2018 You can show the Office Furniture in the Balance Sheet. What Kalam meant was you cannot capitalise only the Input Tax Credit Portion.

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