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Claiming ITC on refrigerator

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668 Points Joined September 2015
my client want to purchase refrigerator
for shop usage
can he claim ITC
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On 21 March 2022 at 21:25 Report
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7 Points Joined April 2021
Yes u can
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On 21 March 2022 at 21:44
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student
258 Points Joined September 2011
Yes you can claim ITC on asset purchased for business purposes
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On 22 March 2022 at 00:07
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GST Practitioner & Accounts
15083 Points Joined March 2014
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.
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On 22 March 2022 at 08:19
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Practicing Chartered Accountant
959 Points Joined May 2016
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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On 22 March 2022 at 09:41

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