as per the provisions it is said that when the asset is capitalised along with tax in the books of accounts ...u can't claim input tax credit...other option if u are capitalised with out tax ..u can claim input tax credit...
here in my view ..to get the immediate benefit it is better to take itc rather than depreciation...
please explain me if it is better to take depreciation rather than itc
Yes... ITC is better than Depreciation.
And One more think...
If the Bill value accounting (FA & Tax) with splitting of basic & tax then no more questions for depreciation on tax amount...
CAclubindia
