Can we claim GST for fixed assets.
This query is : Resolved
Quick Summary
03 January 2022
Can we claim GST for fixed assets.
If we claim GST than what will happen in future. Please suggest me.
If we claim GST than what will happen in future. Please suggest me.
CA Altamush Zafar
(Expert)
03 January 2022
Yes you can claim ITC on fixed assets provided you don't claim depreciation on gst amount and such ITC is not disallowed u/s 17(5)
Soumitra Basu
(Expert)
04 January 2022
you can claim GST only on Plant and Machinery but not on Building.
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