Input Tax Credits On Capital Goods


ASIM KUMAR DAS
watch_later 2 years, 11 months ago

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

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1 Answer

Rahul Rai watch_later 2 years, 11 months ago
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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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    Perfectly answered. - GST Payer
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