please tell me whether ITC claim on fixed asset is available or not?
my advocate is saying no its not available
but my seniors and CA is saying yes it is available
i am totally confused
please help me out
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ITC claim on fixed asset
Replies (7)
What kind of asset ?
Vehicle purchased for business purpose
If used for transportation of goods it's allowed.
Vehicle related ITC will be claim some of the restrictions...
* What vehicle You purchased...?
* Are You a transporter...?
* Are You using the vehicle for transportation of goods...?
* What vehicle You purchased...?
* Are You a transporter...?
* Are You using the vehicle for transportation of goods...?
First point if you claim depriciation in income tax then no ITC in gst
Depreciation claim including tax amount then only ITC not available...
If claim depreciation on basic value of the asset and GST ITC can be avail
If claim depreciation on basic value of the asset and GST ITC can be avail
Thank you
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