Itc on material purchased
ABHI KUMAR (637 Points)
25 June 2022thanks in advance
ABHI KUMAR (637 Points)
25 June 2022
Rajendra Prasad
(Employee Private)
(1824 Points)
Replied 25 June 2022
No, the said ITC is not eligible to avail.
Kallol Sarkar
(Accountant)
(188 Points)
Replied 25 June 2022
Yes. ITC on fixed asset purchase or its further development is allowed provided you won't charge depreciation on GST amount of purchase bill.
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 25 June 2022
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 26 June 2022
Kallol Sarkar
(Accountant)
(188 Points)
Replied 27 June 2022
ITC is barred u/s 17(5) (c) & (d)
You are right.
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