No Credit is allowed for Vehicles as same has been not allowed by GST u/s 17 blocked credit and for other capital goods same can be claimed in the same year.
FIXED ASSETS purchased for the business purpose is allowable for either (1) full itc credit can be taken in the year of purchase OR (2) claim as depreciation in ITA , 1961
Your are not logged in . Please login to post replies
Click here to Login / Register
view more »
Our Network Sites
Set Content Preference
Download CAclubindia App
Alternatively, you can log in using:
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.