Dear sir if Chair costing 20,000 is purchased for office use and GST paid 18% then will be get ITC on chairs what will be case for Depreciation in the end of year
Yes you will get input credit for any fixed asset purchased and used for business purpose.
Charge depreciation on cost of chair excluding GST portion.
If you claim depreciation on GST portion of purchase value of fixed asset then you cannot claim input tax credit.
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