Respected Friends,
Our dealer is dealing in Tax Free Goods. For regular business purpose, he has purchased Computer for say 100 Rs. + GST at applicable rates.
Now, at the time of Income Tax Audit feeding,
(1) how to show this computer purchase under Fixed Assets head ? Whether to show at the Gross Value i.e. Cost+GST or only Cost.
(2) How to claim refund for excess ITC available in Set-Off section ?
Pl help.
T & R
K P Bhanushali
CAclubindia
