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ITC Claim on laptop

6316 views 13 replies
whether a firm can claim ITC on laptop purchased for business use?? and claim depreciation from coming years?
Replies (13)
As per my opinion, you can claim for both. Depreciation is applicable on Taxable amount only.
Yes you can claim both the things i.e itc and depreciation but you can claim full depreciation if you purchased your laptop before completion of first 6 months of this financial year otherwise you are only eligible to claim half of the depreciation.
You can either claim itc or depreciation. you cannot claim both at the same time
You can claim ITC...
DEPRECIATION IS AN INFLOW.
SO IT CAN ALSO BE CLAIMED.
Yes u can claim gst on laptop purchased for business purpose but make sure that only taxable value will be capitalised in fixed assets and claim gst itc in 3B.. in that case u can also take depreciation on the amount of laptop capitalised in books..i.e. taxable value...
Obviously taxable invoice is only permitted.

yes you can claim itc of gst and depreciation on basic value but remember to take only basic value in assets and not gst value.

computer a/c        dr        100

gst ac dr.                            18

to bank or creditor                                 118

Obviously you can claim itc of gst.
But whatever you hv mentioned remain restricted to the query.

you can take ITC of the GST amount paid on the purchase of laptop. But, in case ITC is taken then depreciation is not available on this GST amount.

For Eg.
laptop value is 1000 and GST is 100
you may claim ITC of 100 and depreciation is then available on 1000 only. in case you dont claim ITC then depreciation is available on whole 1100.

hope this clarifies.

you can take ITC of the GST amount paid on the purchase of laptop. But, in case ITC is taken then depreciation is not available on this GST amount.

For Eg.
laptop value is 1000 and GST is 100
you may claim ITC of 100 and depreciation is then available on 1000 only. in case you dont claim ITC then depreciation is available on whole 1100.

hope this clarifies.

ITC can be claimed on LAPTOP 

and depreciation will be allowed on value of asset (net of ITC) 

Depreciation can be claimed net of itc

good explain with the example 


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