How to take fixed asset such as machinery
Page no : 2
CA.Pankaj Rawat
(Chartered Accountant)
(1381 Points)
Replied 01 March 2019
i think availing ITC is more beneficial as compared to claiming depreciation on gst
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 March 2019
Yes.... I agreed to Mr Pankaj Rawat's view....
Bcoz,
ITC will be immediate effect to set off liability. Also basic value will fall depreciation...
If purchase a machinery and ITC Rs. 18000...
You can take Rs 18k in the same month of purchase.
In case it's fall under depreciation then You just take 15%*** in the end of the year as expenditure head...
Bcoz,
ITC will be immediate effect to set off liability. Also basic value will fall depreciation...
If purchase a machinery and ITC Rs. 18000...
You can take Rs 18k in the same month of purchase.
In case it's fall under depreciation then You just take 15%*** in the end of the year as expenditure head...
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