Asset purchased with gst tax where it is reflects
This query is : Resolved
18 September 2017
Sir,
I had purchased Air cooler in the Name of the Company , issued invoice with GST Tax , it is not our commodity where I want to show in GSTR returns, if I am not showing it will effect in GSTR 2, how can I accept please clarify these doubt
Thanking you
I had purchased Air cooler in the Name of the Company , issued invoice with GST Tax , it is not our commodity where I want to show in GSTR returns, if I am not showing it will effect in GSTR 2, how can I accept please clarify these doubt
Thanking you
18 September 2017
Accept and claim ITC for two years. Don't capitalise and claim depreciation on GST.
Message likes :
1 times
18 September 2017
sir,
I am not able to understand I had purchased assets 35,000/- CGST 3150/- sgst 3150/- please explain clearly
I am not able to understand I had purchased assets 35,000/- CGST 3150/- sgst 3150/- please explain clearly
18 September 2017
Capitalise 35000 and claim tax credit on GST paid 3150 this year and 3150 next year.
Message likes :
2 times
18 September 2017
thank you sir for your reply and claim depreciation in gst meaning how to claim
Message likes :
1 times
18 September 2017
Not capitalise GST means no depreciation on GST.
Message likes :
2 times
18 September 2017
Sir.,
As per GST, Capital Goods ITC is 100% available in single taken....
Please Correct me if I am wrong...!
18 September 2017
100% ITC available but claim it over 2 years.
18 September 2017
@Archana.,
Can't Claim depreciation in GST means...
You claim ITC on Tax amount..
You claim depreciation on Goods value....
Message likes :
2 times
18 September 2017
Sir.,
Over two years means 50/50 or 1st SGST next CGST / 1st CGST next SGST...?
Also please notify the section..
Bcoz, Also I confused this one. Take one Assets ITC
19 September 2017
Thank you sir for your reply and valuable information on gst
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Bank Accounts in Balance Sheet for ITR 3
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
