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ITC ON PLANT N MACHINERY
can I get itc on plant n machinery for my brick farm?
Replies (5)
If you purchased new plant, you can get full itc at the time of book entry of capital goods. If you purchased the capital goods before gst, you can claim remaining ITC in Tran 1 form
since the P&M has been used for ur business for production. it is a fixed asset 4 u.
So u r not able to take the input credit for it.
But u can charge depreciation on it
So u r not able to take the input credit for it.
But u can charge depreciation on it
m going to buy new machinery.
fine sir..
I agreed to Mr Mahendra Sahoo.,
@ Priyokumar.,
You can claim that ITC on your purchase of Machinery...
Also you can claim Depreciation for the basic value of the goods...
@ Priyokumar.,
You can claim that ITC on your purchase of Machinery...
Also you can claim Depreciation for the basic value of the goods...
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