can we claim depreciation on taxable Value even after we already claimed input tax credit for an asset
4 Replies
Chhalani and Associates
(CA - www.cachhalani.com)
(142 Points)
Replied 02 April 2019
Depreciation will be allowed on base amount. For eg - If you bought something for Rs. 118 (100 + 18 - GST). Input tax credit was claimed for Rs. 18. Depreciation can be claimed for balance Rs. 100.
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 02 April 2019
on net value after deducting input tax credit
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