Itc on depreciable captial goods


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 June 2017 RESPECTED EXPERTS,

I WANTS TO KNOW THAT IS TAX CREDIT OF GST ON CAPITAL GOODS WILL BE AVAILABLE IF ON THAT ASSET WE CLAIMS DEPRECIATION UNDER INCOME TAX ACT.

23 June 2017 Income tax act & GST are both different Act. You can claim ITC irrespective of fact that depreciation claimed under Income tax act.

24 June 2017 If you claim ITC on Capital Asset, then on the portion of Tax in Asset you are not eligible for Depreciation, ie when you avail the ITC the asset value will be the Pre Tax value and the dep will only be on the pre tax value.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
25 June 2017 THANKS FOR UR GUIDEANCE


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details