ITC On Plant & Machinery Condition
Amar N Gambhire Patil (Student) (57 Points)
24 November 2018
Full or Subsequent utilised credit ??
1 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 24 November 2018
Credits for capital goods are available in full. There is no provision stipulating availment of capital goods credit in instalment or tranches. Further, if the tax payer claims depreciation of the tax component in the value of capital goods under the provisions of Income Tax Act, then credit is not allowed on such tax component of capital goods.
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