We are traders and have purchased a laptop for business use with GST invoice. E way bill also has been created by supplier. Can we claim ITC? If yes can it be claimed in one instalment?
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ITC for Laptop
Replies (12)
Quick Summary
Yes, you can claim the ITC.
Can not Claim Depreciation on Tax Components
Yes, you can claim ITC, provided that you didn't take any depreciation on such amount.
The depreciation should be claimed on amount excluding GST.
The depreciation should be claimed on amount excluding GST.
You can claim it except you dealing in exempted supplies
You can easily claim depreciation.
ITC can be availed on capital goods only if the depreciation is not claimed on ITC amount.
Hope only 50% ITC can be claimed in the year of purchase
Hope only 50% ITC can be claimed in the year of purchase
Why 50%????
Capital Good
No rule provide for 50% ITC on capital goods , if I'm incorrect then correct me with section or any notification issued
@ Rashmi. I think during VAT regime ITC on capital goods was allowed to be claimed in installments.
But in GST, there is no such provision.
There is no provision in GST for claiming ITC in instalments.
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