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can we take ITC on asset purchase?
we are going to buy some computers for our new office. can we take the GST amount credit for this?
Replies (10)
OH YES....
You can take FULLLLLY
You can take FULLLLLY
then what about capex
then what about capex
no sir it's ok
| Originally posted by : souvikghosal007 @ gmail.com | ||
 |
then what about capex |  |
What is this...?
no sir it's just capital expenditures
sir, I have kept separate GST output ledgers for different percentage and same for input. for example, I have output cgst @ 9,14,6 % and same for input. I have paid 900000 sgst this month. in which ledger I have to debit for payment. I am confused.pls help.
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
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