i have claimed itc on capital goods in the invoice month.. what should i do now..
ex. capital goods bill date 01/01/2018.
itc claimed in january 3b
6 Replies
Jatin
(Accountant)
(3479 Points)
Replied 03 June 2018
You can claim ITC on capital goods in same month, no problem
Subhkaran Surana
(343 Points)
Replied 03 June 2018
As per section 16 of the CGST, Act 2017 ITC on capital goods is allowed subject to the fulfillment of the conditions.
In addition, you cannot claim depreciation on the tax component of capital goods
In addition, you cannot claim depreciation on the tax component of capital goods
Shoeb Hasan
(81 Points)
Replied 03 June 2018
yes i will calculate depreciation on taxable value.. not on invoice value
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