A registered dealer purchased the P&M.
Can he avail ITC as wel as depreciation while computing output tax liabilities.
pl explain., experts
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ITC related reg
Replies (4)
No depreciation can be claimed to the extent of ITC availed. If ITC is not availed, then depreciation can be claimed on the total cost including tax.
Thank you,
Agree with poornima
You can't take dual benefit. you want ITC then you have to forgo depreciation on ITC part.
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