If I buy a machine for producing taxable supplies costing 10 lacs for which gst payable is 1,80,000
Can i claim entire 1,80,000 in the same month or only a portion of credit ?
Rakshit
(practising)
(338 Points)
Replied 28 May 2018
You are entitled full GST credit provided you have not claimed depreciation under section 32 of the Income Tax Act
Raksh*t
9810525780
advrcverma @ gmail.com
RAJA P M
("Do the Right Thing...!!!")
(127249 Points)
Replied 28 May 2018
anita
(trainee)
(514 Points)
Replied 28 May 2018
Great! so this applies to all capital goods bought since JULY 2017?
RAJA P M
("Do the Right Thing...!!!")
(127249 Points)
Replied 28 May 2018
Vinod Babu
(24191 Points)
Replied 28 May 2018
CAclubindia
