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GST input on fixed assets

Others 412 views 4 replies
Can we claim GST input on Assets
Replies (4)
Yes. You can claim ITC on fisxed as well on complying with section 16 of CGST Act. Further, you wont be able to claim credit on supplies mentioned in section 17(5) of CGST Act.
Asset should. be use only for furthance of business .
Furniture and air conditioner are used for staff welfare so we can't claim of such assets?

Dear Mr khan , Assets  of  the company you can  claim , however as per section section 16(3) of the CGST act  , Where  registered person  has claimed deprecation on the Tax component of the cost of capital  goods  and plant & machinery under the  provisions of the Income tax act 1961 , the Input tax credit  on the said tax  component  shall  not be allowed . 

so please  check  while  calculating  Deprecation of  Asset


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