GST disallow and Capitalising of asset
Bhavesh (Accounts) (158 Points)
25 May 2024Bhavesh (Accounts) (158 Points)
25 May 2024
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 25 May 2024
For Immovable Assets, GST input credit is not allowed. When fixed assets are purchased, GST is paid, and depreciation must be calculated on the total cost, including GST.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 26 May 2024