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ITC & Depreciation on Capital asset
If I avail ITC on my capital goods can I provide depreciation on such asset?. Any case law regarding the same?
Replies (1)
Yes, You can take ITC on Capital Goods and Depreciation as well.
But depreciation will be only on the amount capitalised without ITC.
If you have capitalised ITC also, then you can claim depreciation on it but cannot claim that ITC in GST
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