I have purchase Plant machine for production. it's about 50lacks
IGST is 9 lack .
should I take ITC part by part ie. (5%per quarter)
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ITC On capital Goods
Replies (4)
You can claim full ITC in single take...
If your all outward supply are taxable supply
But u can not take deppreation on ITC part
If a bill we split to claimed ITC then balance available amount only for the basic value... It's also accounted to asset then where we can claim depreciation on ITC values...
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