my client want to purchase refrigerator
for shop usage
can he claim ITC
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Claiming ITC on refrigerator
Replies (4)
Yes u can
Yes you can claim ITC on asset purchased for business purposes
You can not claim depreciation on tax components of the cost of an asset , if you claim ITC , please refer section 16(3) of the CGST act 2017.
Either one can avail the GST ITC on the assets purchased or one can avail the benefit of depreciation on the tax component. Both the things can not be done simultaneously.
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