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Input credit of gst in case of capital goods

ITC / Input 137 views 1 replies

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] ?

 

Replies (1)
1. Correct
2. Yes avail ITC 198000/-
3. yes , depreciation can be claim on taxable value Ie 1100000/-


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