Lift purchase itc

ABHI KUMAR (679 Points)

14 August 2023

We purchase lift for showroom of eye glasses

can we claim itc of lift nd this shop also is under construction

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6 Replies

sabyasachi mukherjee (27119 Points)
Replied 14 August 2023

If lift purchased for the purpose of construction then it is ok

ABHI KUMAR (679 Points)
Replied 14 August 2023

Life used for shop for customer den we can claim itc sir

Mithun Pandey (36 Points)
Replied 14 August 2023

ITC on Lift is not admissible , There are a number of articles available on it . Please read them once better consult your CA for safe side.

sabyasachi mukherjee (27119 Points)
Replied 14 August 2023

Itc on lift is acceptable if used for furtherance of business.

ABHI KUMAR (679 Points)
Replied 14 August 2023

Itc used for customer mithun ji den we can claim itc

Saurav Sharma (Sharma & Associates) (29 Points)
Replied 08 September 2023

You can claim itc of capital goods, but you never claim depreciation of ITC.

You have two choice:-

1) You claim itc , never claim depreciation on ITC of Lift, but you claim Depreciation Only taxable Amt.

2) And you are not claim ITC , You claim depreciation bill amt .

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