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Itc on truck purchase

This query is : Resolved 
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(Querist)
21 November 2018 Dear Experts,
One of my assessee is having stone crusher, where he crush stone and sale via his transport vehicle. He just purchase a new dumper truck for transporting his crush stone goods to customers.
My query is he can claim ITC or not?, and if ITC can be claim, so he can claim depreciation or not?
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kathir

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kathir (Expert)
21 November 2018 You can avail ITC becouse you have used this truck for business purpose. You can claim depreciation on taxable value only ( exclude GST portion on asset ).
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
21 November 2018 Above case you can claim ITC On Transportationvehicle . Since you are availing ITC your asset will be added net of GST so Asset is added excluding GST, Depreciation calculated at net value of Truck .
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