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Itc on capital goods

Others 273 views 2 replies
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
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


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