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ITC on Capital Goods
can I claim 100% ITC on Furniture and Fixtures use for business.
Replies (5)
Yes.... Why not...?!
You can claim 100% ITC for the purchase of Capital goods which is used in Your business...
You can claim 100% ITC for the purchase of Capital goods which is used in Your business...
YES you can claim
you can claim but that can not be claimed for refund.
As per section 16 sub section 3 of the CGST act if you claim depreciation on the tax component of the cost of capital goods (furniture & fixture ) under the provision of the Income tax act 1961 , the input tax credit on the said component shall be allowed .
with reference. to my answer above please read the input tax credit on the said component shall not be. allowed instead of wrongly. typed shall be allowed .
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