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Laptop buy with gst invoice and any tax benegit

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Jayanta Bandyopadhyay

414 Points Posted on 18 January 2022

I am having a small trading business of toys and regularly file GST return. However, business income is not much,,hence no income tax is payable.

If I buy laptop for office work in the name of business firm, will I be able to save any tax benefits.

Please guide.

Replies (3)

Quick Summary

If you're running a small trading business and regularly file GST, you can claim input tax credit on a laptop purchased for office use. Ensure you get a GST-registered supplier and a valid tax invoice. While income tax benefits might be limited if no tax is payable, depreciation can still offer advantages. Always provide your GSTIN at the point of purchase to secure these benefits.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 18 January 2022

For claiming the input credit under GST while buying laptops for your firm/company, you must get a tax invoice or debit note from a GST-registered laptop supplier. ... The input tax credit is valid when the supplier pays the taxes collected from you, so any claim made by you is matched then validated.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 18 January 2022

CA Puja Sharma

Chartered Accountant

3528 Points Posted on 18 January 2022

Yes, you can purchase the laptop in the name of the business. Give your GSTIN at the time of purchase of the Laptop. This will help you to take the ITC benefit of GST.

Further, depreciation can help in taking the benefit under Income Tax