Can i avail itc on airconditioner bought for my textile shop?Do I need to treat it as a revenue expenditure? If capitalised, can I
claim depreciation?
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ITC on airconditioner
Replies (8)
Quick Summary
Yes, you may avail ITC on aircons under GST. If capitalized, you may claim depreciation too (excluding ITC that is availed).
Yes u can if all other conditions are satisfied (like ITC appearing in GSTR-2A etc.). You should treat it as a capital expenditure and claim depreciation thereon.
Yes you can claim ITC
Thank you all, Poornimaji, Choudharyji and Souravji
Your welcome
Yes if you are installing the air conditioner in your shop then you can claim ITC.
You should treat it as capital expenditure and book as an asset.
Further, since you will be taking ITC on the AC, do not claim depreciation on the GST component.
Thanks, Puja ji
Your Welcome Mr. Iyer
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