Input tax credit

13 August 2020

If we take input on purchase of laptop..and claimed in gst portal...
then can we claim depreciation for basic amount of laptop....purchased

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4 Replies

priyanka pal (110 Points)
Replied 13 August 2020

Yes excluding gst amount

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 13 August 2020

Yes, you can take depreciation on basic amount excluding GST, which is capitalised in your books of account.

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 13 August 2020

Yes in term of Section 16(3) you can claim ITC on value before GST .

paleti diwakar (44 Points)
Replied 15 August 2020

You have to capitalise only taxable amount excluding gst portion so you can claim depreciation only on taxable value over the life of asset

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