Input Credit

We have purchased computer and accessories for office use. Kindly clarify whether it should be booked as purchase for availing the GST Input or we can book as asset and claim the depreciation also avail the GST Input.
Replies (4)

Must read point no. 7

Input Tax Credit under GST –

Conditions To Claim A registered person will be eligible to claim Input Tax Credit (ITC) on fulfillment of the following conditions:

1. Possession of a tax invoice or debit note or document evidencing payment.

2. Receipt of goods and/or services

3. goods delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods

4. Furnishing of a return

5. Where goods are received in lots or installments ITC will be allowed to be availed when the last lot or installment is received. 6. Failure to the supplier towards supply of goods and/or services within 180 days from the date of invoice, ITC already claimed will be added to output tax liability and interest to paid on such tax involved. On payment to supplier, ITC will be again allowed to be claimed.

7. No ITC will be allowed if depreciation have been claimed on tax component of a capital good.

8. If invoice or debit note is received after the due date of filing return for September of next financial year

thanks a lot
Originally posted by : Murugesan
thanks a lot

Your welcome

@ Mr. Murugesan

good morning sir
Could you please provide the detailed explanation for S.No.8

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