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itc or depriation fixed assets
if I am buying fixed assets than I am claim only ITC and depreciation not allow ed or both allow in gst ITC and depreciation
Replies (2)
No ITC available for vehicle, unless its the main business of assessee. You may refer www.gstkendra.com and get free consultation.
@ Piyush.,
What is your exact purchase of Asset..?
If it's other than Vehicle you can use GST tax as ITC.
Also you can claim Depreciation for the basic value of the Assets....
If it's vehicle then you can't avail ITC. But, you can claim Depreciation in Income Tax as Full invoice value...
What is your exact purchase of Asset..?
If it's other than Vehicle you can use GST tax as ITC.
Also you can claim Depreciation for the basic value of the Assets....
If it's vehicle then you can't avail ITC. But, you can claim Depreciation in Income Tax as Full invoice value...
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