ITC

Indirect Taxation

Can ITC be claimed on grass cutter? And whether it should be capitalised in the books?

Sanat Harwadekar

CA Inter

★ 3K+

13-Jul-22 14:34

583

Answers (5)

What is the purpose and ownership of the asset ?

Sudha Reddy

CA Final

★ 20K+

14-Jul-22 11:57

If it is used in the course or furtherance of business then ITC can be claimed.

Shiva Teja

Faculty

14-Jul-22 12:08

Sudha Reddy

What is the purpose and ownership of the asset ?

Purpose is to chop the grass grown in business premise.

Thread Starter

Sanat Harwadekar

CA Inter

★ 3K+

14-Jul-22 12:09

Shiva Teja Faculty

If it is used in the course or furtherance of business then ITC can be claimed.

If so then it can't be capitalised in books right?

Thread Starter

Sanat Harwadekar

CA Inter

★ 3K+

14-Jul-22 12:10

Thread Starter

Sanat Harwadekar

Purpose is to chop the grass grown in business premise.

You can claim. But department may say its not directly related to course or furtherance of business.

Shiva Teja

Faculty

14-Jul-22 12:13

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