https://www.taxtmi.com/forum/issue?id=115688 Hiring cold storage for fruits and vegetables is an exempt supply, therefore GST on machinery used for that exempt activity is not available as input tax credit and must be capitalised as part of the asset cost. Taxpayers should record the GST-paid amount in the fixed asset register and claim the tax benefit through depreciation; any GST wrongly credited must be reversed to the electronic credit ledger. en-us Tue, 19 Nov 2019 15:08:41 +0530 Thu, 23 Jan 2025 15:54:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115688 Hiring cold storage for fruits and vegetables is an exempt supply, therefore GST on machinery used for that exempt activity is not available as input tax credit and must be capitalised as part of the asset cost. Taxpayers should record the GST-paid amount in the fixed asset register and claim the tax benefit through depreciation; any GST wrongly credited must be reversed to the electronic credit ledger. Discussion-Forum GST Tue, 19 Nov 2019 15:08:41 +0530 https://www.taxtmi.com/forum/issue?id=115688