03 August 2018
purchase of capital good what should be the accounting treatment in case of non GST goods . what will the treatment of GST ? can be claimed AS ITC or GST will be added to the cost of capital goods.
04 August 2018
Sir, For non GST you take a assets value as your capital goods and depreciation will be taken full, but in GST tax is added in the asset bill, only gross value will be capitalised and the tax portion you take as ITC, Depreciation also taken from Gross value.
04 August 2018
That means if ITC is not claimed.. then assets value will be including GST in case of non GST Goods. Depriciation will CALCULATED ON FULL AMOUNT
CAclubindia
