sir,
I have purchased a air conditioner for company basis and take depreciation on air conditioner can I take ITC on air conditioner. can I take both deprication and ITC on air conditioner
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ITC on capital Goods
Replies (8)
1) You can take ITC of tax paid on air conditioner but make sure that you haven't capitalised the tax component while filing your income-tax Returns.
2) Yes, you can also claim depreciation on wdv (again, make sure that gst paid is not capitalised)..
2) Yes, you can also claim depreciation on wdv (again, make sure that gst paid is not capitalised)..
Only basic amt capitalised ok sir
I think, you can claim either itc or depreciation.
awaiting for experts opinion
awaiting for experts opinion
1.Option
Can claim depreciation on Taxable Amount which is before GST & can avail ITC on GST Amount
2 Option :
Claim depreciation on Gross amount(including GST ) , then ITC is not available.
Can claim depreciation on Taxable Amount which is before GST & can avail ITC on GST Amount
2 Option :
Claim depreciation on Gross amount(including GST ) , then ITC is not available.
You can claim the depression.on Taxable amount before GST and also avail ITC Credit on GST amount.Otherwise claim depression on Gross Value,then ITC Credit is not available.
Its wrong..either deprn or itc
@ Mr. KISHOR LULLA
WHY ITS WRONG..... CAN'T WE AVAIL ITC IF WE CLAIM DEPRECIATON ON TAXABLE AMOUNT ...... KINDLY REFER THE SECTION 16(3) OF CGST ACT
As.per Section 16(3) claim depreciation on Taxable amount.
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