GST Implications on movable & immovable property/equipment

This discussion clarifies the Goods and Services Tax (GST) implications when capitalising movable and immovable assets. For immovable assets like buildings, Input Tax Credit (ITC) is generally blocked, meaning the GST cost is added to the asset's value. However, for movable assets such as machinery, full ITC is usually available. It's crucial not to claim depreciation on the GST component if you've claimed ITC, as this can lead to denial of the credit.