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Itc on capital goods (machinery)

ITC / Input 309 views 8 replies
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Accounts Executive
31 Points Posted on 17 February 2018

Dear Expertes

Please suggest can claim full ITC on Machinery purchase?, if Yes then 100% any time or 50% current & 50% Next year?

Please advise..

Thanks in Advance

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On 17 February 2018 at 11:05 Report
Replies (8)
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PROFESSIONAL
1777 Points Posted on 17 February 2018

You are eligible to take full ITC in one stroke.

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On 17 February 2018 at 11:16
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497 Points Posted on 17 February 2018
You have to claim ITC in 5 years
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On 17 February 2018 at 11:44
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1244 Points Posted on 17 February 2018
mr. singh sir i am not understanding what u say
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On 17 February 2018 at 20:14
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497 Points Posted on 17 February 2018
I mean, In case of capital goods you have to assume the useful life of capital goods is 5 year and you will claim ITC in 5 years / 5 parts , Per year, As per GST act,
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On 17 February 2018 at 23:08
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210 Points Posted on 18 February 2018
we will claim depreciation & itc, both will be claim
plz sir
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On 18 February 2018 at 08:41
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210 Points Posted on 18 February 2018
we will claim depreciation & itc, both will be claim sir?
plz reply sir
1 Reply
On 18 February 2018 at 09:05
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497 Points Posted on 18 February 2018
Yes you will claim depreciation but you can charge depreciation on the value of machinery only not on tax value
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On 18 February 2018 at 10:28
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497 Points Posted on 18 February 2018
Yes you can claim both ITC as well as depreciation
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On 18 February 2018 at 10:30


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