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Gst purchase mobilephone

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vairavan

accountant

45 Points Posted on 26 August 2021

We have purchased mobile phone for office use, basic value Rs 20000 tax 18% Rs 3600 can we book basic value of 20000 as asset and the same can we take ITC Rs 3600 is that correct

Replies (3)

Quick Summary

This discussion clarifies whether a mobile phone purchased for office use, costing Rs 20,000 with Rs 3,600 GST at 18%, can be treated correctly for accounting and tax purposes. The consensus is that the basic value of Rs 20,000 can be booked as an asset, and the Rs 3,600 GST can be claimed as Input Tax Credit (ITC), provided no depreciation is claimed on the GST amount itself.