purchase fixed asseets of rs 200000
in month of march 2021.
this amonut inlcude cgst 9000and sgst 9000
what can i do when do not take itc on it .
and use as fixedassets and want to take dep.
what amont show in balance sheet .
and on which amont i take dep.
and in 3B what amont shiw in ITC
Menu
Itc on capital goods
Replies (2)
If you do not wish to take ITC, the capitalize the entire Rs.2lacs in the balance sheet as fixed asset (which includes the GST portion).
Claim depreciation on Rs. 2 lacs.
No disclosure is required to be done in GSTR-3B as you are not claiming ITC
Then what treatment of itc shown in gstr 2
Recent Threads
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
- I have wrongly shown itc in reclaimable itc inste
- Help reqd in getting Professional Tax challan
Related Threads
CAclubindia
