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Input tax credit

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254 Points Joined June 2018
If we take input on purchase of laptop..and claimed in gst portal...
then can we claim depreciation for basic amount of laptop....purchased
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On 13 August 2020 at 21:51 Report
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110 Points Joined August 2019
Yes excluding gst amount
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On 13 August 2020 at 22:00
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Tax and Business Consultant
11616 Points Joined July 2015
Yes, you can take depreciation on basic amount excluding GST, which is capitalised in your books of account.
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On 13 August 2020 at 22:36
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GST Practitioner
55067 Points Joined June 2017
Yes in term of Section 16(3) you can claim ITC on value before GST .
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On 13 August 2020 at 23:12
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44 Points Joined November 2017
You have to capitalise only taxable amount excluding gst portion so you can claim depreciation only on taxable value over the life of asset
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On 15 August 2020 at 14:40

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