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Reg.Labtop

229 views 3 replies
Sir,

We have purchased laptop for
business purpose. bill reflect in 2A. Can we claim ITC and deprecation on Laptop.
please advise
Replies (3)
Yes... You can claim ITC for the purchase of Laptop.
But,
Depreciation applicable on basic value only...

Ex :
say laptop total value Rs. 118 as (Basic value Rs 100 & Gst Rs 18. Then You will claim ITC Rs 18.

Depreciation will be calculated in basic value as 100 * 40% = 40 depreciation value.
Yes you can claim ITC provided that all the 4 conditions as laid down U/s 16(2) of the CGST Act 2017 is satisfied, i.e.

1). Possession of a Tax Invoice.
2). Goods have been received.
3). Supplier must have paid the taxes to the Government exchequer.
4). Recipient must have filed the Return.

As far as Depreciation u/s 32 of the Income Tax Act 1961 is concerned, you can claim it but not on the Tax Amount. Refer Section 16(3) of the CGST Act 2017 for more information.
Agree with Shivam RC


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