we r manufacturer turnover above RS. 1.5 cr, import a machine RS.7 lac for production (taxable goods with partly supply with lut to sez not exempted goods)
Can we take ITC of igst on B.O.E in one time not in 5 years
Menu
ITC CAPITAL GOODS
Replies (7)
Yes... You can take the ITC in Single Take in that Purchased Month...
Your eligible to take itc at one time if you are not consider gst component in depreciation under income tax act
Dear sir
what about depreciation
what about depreciation
If You will avail the GST Tax as ITC then You can't claim Depreciation for the GST Tax...
You can Book depreciation for the basic Value of Goods (Assets)...
thanx sir
You are most welcome Dear
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
