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Capitalization of fixed Assets

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(Querist)
22 November 2017 GST amount on purchase of fixed assets should be capitalized or not?
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Amitav

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Amitav (Expert)
22 November 2017 Either you take input credit on GST paid or capitalise it.

If you capitalise then depreciation need to be charged.

and if you claim depreciation on the GST paid while purchasing the capital asset, you cannot claim input tax credit.

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