can we take ITC on asset purchase?
souvikghosal007@gmail.com (38 Points)
22 September 2017
we are going to buy some computers for our new office. can we take the GST amount credit for this?
10 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 September 2017
OH YES....
You can take FULLLLLY
You can take FULLLLLY
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 September 2017
| Originally posted by : souvikghosal007 @ gmail.com | ||
 |
then what about capex |  |
What is this...?
souvikghosal007@gmail.com
(38 Points)
Replied 22 September 2017
no sir it's just capital expenditures
souvikghosal007@gmail.com
(38 Points)
Replied 22 September 2017
sir, I have kept separate GST output ledgers for different percentage and same for input. for example, I have output cgst @ 9,14,6 % and same for input. I have paid 900000 sgst this month. in which ledger I have to debit for payment. I am confused.pls help.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 September 2017
Show your input and Output values...
Umesh V Naig
(Statutory Analyst)
(452 Points)
Replied 17 January 2018
first workout your 3B viz
sales value basic + out put = bill value
purchase value basic+input=bill value
net if payable thru cash register
work out accordingly
Umesh V Naig
(Statutory Analyst)
(452 Points)
Replied 17 January 2018
if any asset is purchased for furtherance of business you can take input credit,
your doubt it is capital expenditure- this word is most talked in income tax aspect not under GST. as per GST if used in the business and for generation of revenue ITC is applicable.
Please under stand the difference between capital expenditure and furtherance of business under GST
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