External hard drive purchased by gst bill for business use


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Quick Summary
If you've purchased an external hard drive with a GST bill for your GST-registered proprietorship, you can indeed claim the Input Tax Credit (ITC) paid on it. Additionally, you can claim depreciation on the hard drive for income tax purposes, provided it's accounted for as a Fixed Asset. It's recommended to record the external hard drive as a separate fixed asset rather than lumping it with your laptop account.

(Querist)
08 October 2023 I have purchased external hard drive by gst bill in my gst registered proprietorship firm.can I claim ITC PAID FOR PURCHASE OF EXTERNAL HARD DRIVE? PLEASE ADVISE. ITC IS OF TOTAL AMOUNT RS 1000/

08 October 2023 Yes, you can take the ITC.

ARUN GUPTA (Querist)
08 October 2023 Can I claim depreciation also on external hard drive in income tax?

RAJA P M (Expert)
08 October 2023 Yes, You can claim ITC for the purchase of EXTERNAL HARD DRIVE...

RAJA P M (Expert)
08 October 2023 Yes, You can claim DEPRECIATION for the EXTERNAL HARD DRIVE if You are Account the same in FA...

ARUN GUPTA (Querist)
08 October 2023 What is account the same in FA?

RAJA P M (Expert)
08 October 2023 Fixed Asset.... ......

ARUN GUPTA (Querist)
09 October 2023 Should we open an account in name of external hard drive account or should we enter in lap top ac? Please clarify?

RAJA P M (Expert)
09 October 2023 Better to show it separately...


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