can we take ITC on asset purchase?

Originally posted by : souvikghosal007 @ gmail.com
	then what about capex

What is this...?

Show your input and Output values...

first workout your 3B viz

sales value basic + out put = bill value

purchase value basic+input=bill value

net if payable thru cash register

work out accordingly

if any asset is purchased for furtherance of business you can take input credit,

your doubt it is capital expenditure- this word is most talked in income tax aspect not under GST. as per GST if used in the business and for generation of revenue ITC is applicable.

Please under stand the difference between capital expenditure and furtherance of business under GST