can we claim ITC for asset purchase
and
claim depreciation as well as ..for the same asset
2 Replies
abhishek bardia
(partner)
(308 Points)
Replied 16 September 2019
Yes itc can be claimed. and depreciation is to be claimed on the gross value of asset. i.e value without taxes.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 17 September 2019
Yes .as per section 16 of CGST Act can claim ITC , but the depreciation must be claim on Taxable value (before GST)
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