ITC on Capital Asset for Business & Personal use

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This query is : Resolved

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This discussion clarifies whether Input Tax Credit (ITC) can be claimed on a laptop purchased for a proprietor firm, used for both business and personal purposes. If the laptop is predominantly used for business and capitalised accordingly, the full ITC on the GST paid can be availed and claimed in the GSTR 3B.

Neha

Neha (Querist)
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14 April 2022 Respected Expert
Please Guide
If a Laptop Rs. 70000 having GST 12600 is Capitalized in books of Proprietor Firm at Rs. 70000 and used for business purpose and also personal purpose. Can ITC be availed on the GST paid.
If Yes how much ITC will be available ? . (GST returns filed Monthly)
Please suggest any reading material to clarify this doubt.

Thanks in Advance

Lekhraj sood

Lekhraj sood (Expert)
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15 April 2022 If it is predominantly used and purchased for business then you may avail full ITC.

CA Puja Sharma

CA Puja Sharma (Expert)
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15 April 2022 You can account for the Laptop in the business books and claim only used for business use.
You can claim the entire ITC while filing your GSTR 3B

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