watch_later 08/10/17

Please let me know that how will take input tax on capital goods ?

1 Response | Latest response: 08/10/17 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 08/10/17

Full input credit is available on capital goods purchased for business.

Conditions to avail input tax credit are:

  • Assets are capitalised in books of accounts,
  • Income tax depreciation is not charged on tax portion (GST paid on capital assets should not be treated as cost or capitalised)

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