Itc on capital goods

If you purchase capital goods and decide not to claim the Input Tax Credit (ITC) on the GST portion, you should capitalise the full purchase price, including GST, as a fixed asset on your balance sheet. Depreciation can then be claimed on this entire amount. When not claiming ITC, there's no need to show it in your GSTR-3B, and no specific disclosure is required for the GST amount in GSTR-2.