AJAY KUMAR (accountant) 26 October 2019
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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Hardik Hindocha 26 October 2019
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)..
Pankaj Rawat (GST Practitioner) 27 October 2019
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.