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Tools whether capital & revenue expenditure

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2017 Dear Experts,
We have purchased the tools with 18 GST to assemble the finish goods. Pls clarify my following doubt..1) whether the tools is revenue or capital expenditure.... 2) can we avail the ITC of GST paid on this tools?

Thanks
ASAP
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RAJA P M

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RAJA P M (Expert)
05 October 2017 It's to Expenditure head. Also you can avail the ITC benefits...
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Udaya Chandran

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Udaya Chandran (Expert)
05 October 2017 You can debit the expenses to revenue expenditure.
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