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INPUT TAX CREDIT ON SOFTWARE
CAN ANY ON TELL ME THAT INPUT TAX PAID ON TALLY ERP 9 AND QUICK HEAL WILL BE AVAILABLE AS CREDIT IN CURRENT YEAR ITSELF OR IT IS ALSO AVAILABLE IN 5 YEARS PERIOD AS CAPITAL GOODS
Replies (2)
Sir as per the provision of cgst act if any goods is capitalised in books of accounts intented to used or used for business then it is treated as capital assets and credit on capital goods is also available in the year of acquisition itself.
it is available on capitalisation only depreciation not claimed on tax
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