sagar kumar jha (student) (20 Points)
03 February 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161308 Points)
Replied 03 February 2019
Its capitalized or added to capital asset, eligible for depreciation.
Vamshi Krishna Javvaji
(CA)
(410 Points)
Replied 03 February 2019
Such person can't claim the credit as he isn't registered as on date of receiving invoice.
As explained the other learned professional above, it would be capitalized.
In case the credit is huge, you can plan a transaction around to get the credit.
CA Meet Sagarka
(Chartered Accountant)
(122 Points)
Replied 26 January 2021
What if any existing business start new project which is very different from existing one and incurr expense for that new business which is yet to start.
how to claim itc of such preliminary expense incurred for that new business??
CAclubindia
