A registered dealer purchased the P&M.
Can he avail ITC as wel as depreciation while computing output tax liabilities.
pl explain., experts
Menu
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.
Recent Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
