ITC on capital goods

Sravan Reddy G (CA) (618 Points)

17 February 2021  
as per ITC claiming rules
ITC not allowed if we take depreciation on that asset


my doubt is
I purchased 100000 +18% gst
machinery
and I will show it as asset in my books and at the end of the year as per company act we need to charge depreciation on that


if I took 18% itc , can't I charge depreciation on year end .