depreciation on mahine gst credit taken available or not
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Depreciation on machine and GST credit
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your qustion is not clear , please elaborate .
section 16 sub section 3 of the CGST act 2017 will apply
As per the Provision of SECTION 16(3) of CGST Act 2017 :
"Where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of SECTION 32 of Income-tax Act, 1961, the input tax credit on the said tax component shall not be allowed."
Therefore, you can either claim INPUT TAX CREDIT as per CGST Act 2017 or Depreciation as per the provision of INCOME TAX ACT 1961, but not BOTH.
"Where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of SECTION 32 of Income-tax Act, 1961, the input tax credit on the said tax component shall not be allowed."
Therefore, you can either claim INPUT TAX CREDIT as per CGST Act 2017 or Depreciation as per the provision of INCOME TAX ACT 1961, but not BOTH.
Input Tax Credit can be claimed on GST if the GST paid is not considered while calculating the Depreciation on Capital Goods
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