I have a retail showroom and I have purchased computer, printer, bar code scanner machine for my business.
Will I get the input credit on the GST paid on these good?
Thanks
Rohit
Menu
Queries regarding input credits
Replies (3)
The said items will be recorded as ‘capital goods’ in the books of accounts.
ITC is available on capital goods PROVIDED depreciation is not claimed on the tax component.
Example:
|
Cost of Asset |
100 |
|
Tax @ 10% |
10 |
|
Total Cost |
110 |
If depreciation charged on Rs. 100 = ITC available
If depreciation charged on Rs. 110 = ITC not available
MUST: Possession of invoice & supplier shall upload it in the GSTN portal.
I am pleased to announce you that my featured online store has opened with the new Designer Collections.
You can Check now on www.sweetysharma.com
https://www.facebook.com/SweetySharmaOfficial/
You can Check now on www.sweetysharma.com
https://www.facebook.com/SweetySharmaOfficial/
I am pleased to announce you that my featured online store has opened with the new Designer Collections.
You can Check now on www.sweetysharma.com
https://www.facebook.com/SweetySharmaOfficial/
You can Check now on www.sweetysharma.com
https://www.facebook.com/SweetySharmaOfficial/
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
