Capitalization of fixed Assets
This query is : Resolved
22 November 2017
GST amount on purchase of fixed assets should be capitalized or not?
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22 November 2017
Either you take input credit on GST paid or capitalise it.
If you capitalise then depreciation need to be charged.
and if you claim depreciation on the GST paid while purchasing the capital asset, you cannot claim input tax credit.
If you capitalise then depreciation need to be charged.
and if you claim depreciation on the GST paid while purchasing the capital asset, you cannot claim input tax credit.
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