What should be the treatment of tax element in a capital asset under CGST Act, 2017?

CS Executive · Tax Laws · PYQS · June 2022
What should be the treatment of tax element in a capital asset under CGST Act, 2017?
(A) Capitalize the same and claim depreciation thereon
(B) Claim the ITC at first instance
(C) Either (A) or (B)
(D) Both (A) and (B)

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: GST

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