one of my client is engaged in brokerage business. And for that he is using 3 moblies and 4 laptops for his business.
Dear expert,
can we claim depreciation on all mobiles and laptops?
Is there any restrictions
regarding number of mobiles and laptops beyond which we can't claim depreciation?
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Depreciation
Replies (7)
Quick Summary
Have you taken Input Tax credit on laptops & Mobiles. ?
Dear expert, He is non Gst client
He is Working as Broker , Just like Agent and getting commission or brokerage ?. because Agents or otherwise required compulsory registration under GST as per section 24 (vii) of the CGST act 2017 .
@ camehulghoghari ji
You can claim depreciation on all your business asset, whether its movable or immovable, capitalised in books of account at the rate prescribed.
There is no restriction regarding number of assets on which you can claim depreciation.
You can claim in all assets.
You can claim depreciation on all your business asset, whether its movable or immovable, capitalised in books of account at the rate prescribed.
There is no restriction regarding number of assets on which you can claim depreciation.
You can claim in all assets.
Thanks sir.....
Can we claim depreciation even if the input GST is claimed?
@ Rajesh Nahar ji
Yes, You can claim depreciation on amount which is capitalised in your books of account, not on GST portion.
e.g Assets Purchase for 1,00,000 +GST 12,000 =1,12,000
than we can take ITC of 12,000 if not blocked u/s 17(5)
and Capitalised Rs. 1,00,000 to assets, on this 1,00,000 we can claim depreciation at prescribed rate.
Yes, You can claim depreciation on amount which is capitalised in your books of account, not on GST portion.
e.g Assets Purchase for 1,00,000 +GST 12,000 =1,12,000
than we can take ITC of 12,000 if not blocked u/s 17(5)
and Capitalised Rs. 1,00,000 to assets, on this 1,00,000 we can claim depreciation at prescribed rate.
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