Can i avail itc on airconditioner bought for my textile shop?Do I need to treat it as a revenue expenditure? If capitalised, can I
claim depreciation?
8 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 27 April 2021
Yes, you may avail ITC on aircons under GST. If capitalized, you may claim depreciation too (excluding ITC that is availed).
Lotus Agrawal
(Practice)
(1361 Points)
Replied 27 April 2021
Yes u can if all other conditions are satisfied (like ITC appearing in GSTR-2A etc.). You should treat it as a capital expenditure and claim depreciation thereon.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 27 April 2021
Yes you can claim ITC
Sreekanth Iyer
(34 Points)
Replied 27 April 2021
Thank you all, Poornimaji, Choudharyji and Souravji
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 28 April 2021
Yes if you are installing the air conditioner in your shop then you can claim ITC.
You should treat it as capital expenditure and book as an asset.
Further, since you will be taking ITC on the AC, do not claim depreciation on the GST component.
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