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Can we claim GST for fixed assets.

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(Querist)
03 January 2022 Can we claim GST for fixed assets.
If we claim GST than what will happen in future. Please suggest me.
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
03 January 2022 Yes you can claim ITC on fixed assets provided you don't claim depreciation on gst amount and such ITC is not disallowed u/s 17(5)
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Soumitra Basu

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Soumitra Basu (Expert)
04 January 2022 you can claim GST only on Plant and Machinery but not on Building.
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