WE CAN TAKE BENEFITS OF ITC
This query is : Resolved
Mohd Nasruddin
(Querist)
05 March 2022
HELLO SIR,
This is my query regarding input tax credit on gym machinery and other items. We are running a fitness club or Gym. We have taken tax invoice GST paid on machinery and other items and we have taken GST number regular scheme. GST return filing monthly basis.
This is my query regarding input tax credit on gym machinery and other items. We are running a fitness club or Gym. We have taken tax invoice GST paid on machinery and other items and we have taken GST number regular scheme. GST return filing monthly basis.
Dhirajlal Rambhia
(Expert)
05 March 2022
It is general practice to capitalize the GST paid initially (during purchase of machinery) and claim depreciation over it.
You can claim ITC for any maintenance & repairs expenses paid over it.
You can claim ITC for any maintenance & repairs expenses paid over it.
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