If a company is not taking input vat credit, can it add it to cost of asset and take depreciation on it ?I read no depreciation can be claimed on input VAT but i feel its applicable only when company takes input vat credit seperately....Eg) 1,00,000 asset value and 4000 VAT ...Company not taking credit of input paid...commpany shows 104000 assett value and depreciation on it in depreciation schedule...itts correct no?
Menu
depre
Replies (5)
yes depreciation can be claimed
Depreciation can be claimed
i have seen many pvt. ltd. companies doing this
okk...i too feell depreciation ccaan be claaimed iff they don takkee inpuutt vat credit........i got a dooubt as i read sommewhere noo depre on innput vatt , duttyy , cess ettc..........but ddat ill bbe cases wwhere wee takkee innpput vat,i feeel
@ Riya.. U r Right... Also Think Practically.... Dept. shall let u take only one benefit .. Either claim Dep or Input Tax credit....
Recent Topic
- Bricks Klin
- Compile error in hidden module: Sheet1. (ITR 5 exc
- Is there a way to get refund for 26QB if paid twic
- How Important Is an MBA Course for Career Growth i
- Learn - How to Take Free Scheduled Auto Backup on
- UPi/Banking Remarks
- URGENT CLARIFICATION NEEDED REGARDING SFT- 005, PL
- What is the nature of business for Pranic Healing
- GST Clarification for billing
- Already tax paid Refund or
CAclubindia
