ICICI

Input tax eligibility reg


NAGA (ACCOUNTANT)     15 November 2019

NAGA
ACCOUNTANT 
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Dear sir
We are GST traders of dry chilli sales. We are going to purchase water purifier cost of above 2lakh. Now can we take itc for this. Pls ans

prasad Nilugal   15 November 2019

prasad Nilugal

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Is it for your Business purpose ?.

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Anshika Aggarwal (Chartered Accountant)     15 November 2019

Anshika Aggarwal
Chartered Accountant 
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Hi,

If water purifier is used for business purpose then it is fixed asset for the company. 

Here company has two option. Any one of them can be followed: 

1. To take depreciation

2. To avail ITC

avater

NAGA (ACCOUNTANT)     15 November 2019

NAGA
ACCOUNTANT 
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It is for business purpose.

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RAJA P M ("Do the Right Thing...!!!")     15 November 2019

RAJA P M
"Do the Right Thing...!!!" 
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@ Mr Naga.,

Yes... You can claim ITC. No more problem.

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Anshika Aggarwal (Chartered Accountant)     15 November 2019

Anshika Aggarwal
Chartered Accountant 
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yes, you can claim ITC but do not capitalize the tax part in your books


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