Note counting Machine

Dear Sir,
We have purchase Note counting machine please suggest in which group I create the ledger also suggest can I claim ITC on machine bill reflect in 2A
Replies (2)
Quick Summary
This discussion clarifies the accounting treatment for a note counting machine. It confirms that the machine should be classified as a fixed asset under the 'plant and machinery' head. Furthermore, it advises that Input Tax Credit (ITC) can be claimed if the bill is reflected in your 2A.

Note counting machine is one type of fixed asset under plant and machinery head. So group head is Fixed Assets. 

Yes, bill reflected in 2A, ITC can be claimed.

Thank you very much Sir,

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