hi
can anyone give clarity on asset pur. and possibility of 2 options
& also suggest me which is best.
1st option
Claim ITC of GST and use the same towards your Output Liability and Show Asset at full cost excl GST charged.
Sravan Reddy G (CA) (618 Points)
26 August 2021
CA. Heet Shah
(Tax Consultant & Practitioner)
(6174 Points)
Replied 26 August 2021
1st option
Claim ITC of GST and use the same towards your Output Liability and Show Asset at full cost excl GST charged.
CA. Heet Shah
(Tax Consultant & Practitioner)
(6174 Points)
Replied 26 August 2021
2nd Option
Capitalise the whole Cost of Asset including GST paid and Claim depreciation on the the whole Asset
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