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Fixed asset purchase bill gst treatment

1407 views 2 replies

If we purchased an Asset worth Rs.25000/- for our office ( say Computer and accessories) they charged GST of Rs.4500/- in the bill.

Clarification:-

1. Shall we take input tax credit of this GST paid

2. After taking credit shall we able to claim Depreciaton on this Asset. ? in which amount ? ( including of GST or excluding of GST)

 

 

Replies (2)
You can claim input tax credit on any asset to be used in business with certain restrictions
Since, Computer does not fall under those restriction, you can claim credit provided your company name is mentioned in the invoice along with your GST number

Further, you can claim depreciation on amount excluding GST (25k - 4.5k)

Thanks for your information and guidance..


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