Input tax claim on fixed asset
This query is : Resolved
17 May 2019
in our company claimed input tax credit on fixed asset as per internal auditor . but unfortunately wrong claimed depreciation on same fixed asset in as per income tax act . and filed income tax return . now what i do?
what is the clear provision for claim ITC and depreciation for fixed asset . how much limit for 1st year and 2nd year as per the GST??????
what is the clear provision for claim ITC and depreciation for fixed asset . how much limit for 1st year and 2nd year as per the GST??????
CA R SEETHARAMAN
(Expert)
18 May 2019
Claim ITC on fixed asset over a period of 60 months excluding building.
Claim depreciation excluding GST on which ITC is claimed.
Claim depreciation excluding GST on which ITC is claimed.
18 May 2019
thank you sir but one more question i dont know over the period of 60 month means how to claim can you elaborate
CA R SEETHARAMAN
(Expert)
19 May 2019
Claim ITC every month for 60 months.
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