Regarding capital goods
This query is : Open
25 May 2018
CAN I CLAIM TAX CREDIT AND DEPRECIATION ON CAPITAL GOODS AT SAME FINANCIAL YEAR IS IT POSSIBLE
25 May 2018
Yes... You can claim ITC for the Tax amount and Claim Depreciation for the Asset value in the same FY... But, The asset is used in furtherance of business and except sec 17(5) of CGST act...
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