Meghansh Agarwal (5 Points)
16 November 2023We are planning to purchase a guard dog for our warehouse. I wanted to know how it will be treated in the books. Will it be an allowed expense? Also can we claim ITC on it. And how will the expenses incurred on the dog like insurance, vet, food etc. be treated. And can ITC on those expenses be claimed?
Note that the dog will be exclusively used for protection of the warehouse, and not for personal use.
CA Aman Rajput
(Chartered Accountant)
(8935 Points)
Replied 17 November 2023
The expenses incurred on the dog, such as food, insurance, and veterinary care, are also considered deductible expenses. However, input tax credit (ITC) cannot be claimed on these expenses.
Meghansh Agarwal
(5 Points)
Replied 17 November 2023
Thanks for clarifying. And for the purchase of the dog, will it be a revenue expenditure or capital expenditure? Can i capitalise the dog?
Meghansh Agarwal
(5 Points)
Replied 17 November 2023
| Originally posted by : CA Aman Rajput | ||
 |
The expenses incurred on the dog, such as food, insurance, and veterinary care, are also considered deductible expenses. However, input tax credit (ITC) cannot be claimed on these expenses. |  |
Thanks for clarifying. And for the purchase of the dog, will it be a revenue expenditure or capital expenditure? Can i capitalise the dog?
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