Fixed Assets ITC

20 January 2018

can we take ITC of fixed assets GST and also depreciate the taxable value

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5 Replies

RAMESH KUMAR SINGLA (PROFESSIONAL) (1777 Points)
Replied 20 January 2018

Are you buying any fixed assets? Pl elaborate your question.

Mahesh Vishwakarma (25 Points)
Replied 20 January 2018

we had purchased ac

Amarjeet jasiwal (student) (147 Points)
Replied 20 January 2018

yes.. itc can be availed and dep. pn amount exclusive of tax.

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 20 January 2018

Yes you can claim iTC on Ac if , used for business purpose. You can depreciate only basis value of AC and not taxes on ac

Mahesh Vishwakarma (25 Points)
Replied 20 January 2018

thanks sir

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