Plese guide me on :
1]. I have purchased vehicle[commercial purpose] for 1100000 [basic value] + 198000 [gst @ 18%] total amount is Rs. 1298000/-. Now if I am transferring Rs. 1100000/- to Asset value and taking input credit on full for the value 198000/-. Is it ok?
2]. Shall I get Input credit for 198000/-?
3]. Shall I claim depreciation on Basic value of asset for Rs. 1100000/- [ I am not inserting full gst amount in asset value] ?
CAclubindia
