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GST v DEPRECIATION

Others 414 views 8 replies

When purchasing any Fix Asset & entered GST input, can claim for depreciation also.

Replies (8)
No input cannot be claimed on depreciation
Depreciation can be claimed on base value of fixed asset and cannot be claimed on GST portion as ITC is availed for GST..

GST is only for purchases and sales

Agreed
You can claim depreciation on the value of fixed asset reflecting jn your books.
now it depends on you for which amount you have created asset it is including gst or without gst.

You can read the blog to  uunderstand GST Registration:
https://rajanmodi.com/2018/04/03/complete-guide-gst-registration/

If you claim depreciation on GST paid while purchasing the fixed asset then you cannot claim ITC on the same and vice versa

as per gst act, you can not claim both benefit either you claim the depreciation on including gst amount of fixed asset or claiming gst credit on such fixed asset and claim depreciation on ex  gst amount . 


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