input credit on capical goods
mandeep raikay (una) (175 Points)
22 September 2018pls tell us we are take itc on capital goods ??and how if we are charge depriciation on the end of year
mandeep raikay (una) (175 Points)
22 September 2018
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 22 September 2018
You can take the ITC for the tax portion, and the basic portion i.e. basic purchase price excluding tax needs to be capitalised. YOu cannot capitalise the tax portion.
mandeep raikay
(una)
(175 Points)
Replied 01 November 2018