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GST Input Credit eligible on capital goods

ITC / Input 489 views 10 replies
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72 Points Posted on 31 December 2018
Hi Team,

Kindly help us we are basically traders we have laptops purchased and same laptops given rental monthly basis to our clients need your suggestion shall we eligible input credit or not and depreciation booked on basic value.

regards
Anilkumar
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On 31 December 2018 at 19:44 Report
Replies (10)
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accountant
266 Points Posted on 31 December 2018

Yes itc can be availed.

5 Reply
On 31 December 2018 at 19:56
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72 Points Posted on 31 December 2018
Request you to kindly share notification
1 Reply
On 31 December 2018 at 19:57
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Student CA Final
111 Points Posted on 31 December 2018
You can avail ITC as this is given in Act itself. No notification is issued in this regard. So, you should avail ITC.
1 Reply
On 31 December 2018 at 20:51
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CA Final student
7106 Points Posted on 31 December 2018
whether you are charging gst on rent?
33 Reply
On 31 December 2018 at 22:33
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72 Points Posted on 31 December 2018
Yes we are charging GST
1 Reply
On 31 December 2018 at 22:36
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Self employed
2193 Points Posted on 31 December 2018
yes u can claim itc on your inputs
9 Reply
On 31 December 2018 at 23:20
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72 Points Posted on 31 December 2018
can we book depreciation on basic value income tax act
1 Reply
On 31 December 2018 at 23:47
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Self employed
2193 Points Posted on 31 December 2018
yes u can book but dont claim depreciation on gst (tax) component
9 Reply
On 31 December 2018 at 23:51
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72 Points Posted on 01 January 2019
Thank you saurabh salwani.
1 Reply
On 01 January 2019 at 01:01
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Specialized in Indirect Taxes
6831 Points Posted on 06 January 2019
Yes can avail credit. Note-the depriciation under income tax act cannot be claimed on ITC credit claimed
32 Reply
On 06 January 2019 at 18:30


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