What is impact of Gst and Imcome tax on Capital goods ?
This query is : Resolved
25 February 2020
Dear sir
Please help me to suggest that . My firm purchase furniture and fixture from a GST register Clint ( propriter) as 2,37,800 as cost of goods and Gst charges 18% on 31.03.2019. We claimed as full as capital goods and charges Depreciation during the F.Y 20182019 but in F.Y 2019-20 check that that client did not deposit GST. In this case could i reverse Depreciation or Gst Itc Claimed value in current year ? please suggest.
Please help me to suggest that . My firm purchase furniture and fixture from a GST register Clint ( propriter) as 2,37,800 as cost of goods and Gst charges 18% on 31.03.2019. We claimed as full as capital goods and charges Depreciation during the F.Y 20182019 but in F.Y 2019-20 check that that client did not deposit GST. In this case could i reverse Depreciation or Gst Itc Claimed value in current year ? please suggest.
25 February 2020
Reverse ITC claimed in current year.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Cloud service
- GST ON FOREIGN CLIENT
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Ca final exam registration may-26
- Accounting Policies changes
- Running non ac bus under contract with roadways
- GST ITC on Liquidated damages
- Forgot to update debit note in gst
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
