Hi Team,
Kindly help us we are basically traders we have laptops purchased and same laptops given rental monthly basis to our clients need your suggestion shall we eligible input credit or not and depreciation booked on basic value.
regards
Anilkumar
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GST Input Credit eligible on capital goods
Replies (10)
Yes itc can be availed.
Request you to kindly share notification
You can avail ITC as this is given in Act itself. No notification is issued in this regard. So, you should avail ITC.
whether you are charging gst on rent?
Yes we are charging GST
yes u can claim itc on your inputs
can we book depreciation on basic value income tax act
yes u can book but dont claim depreciation on gst (tax) component
Thank you saurabh salwani.
Yes can avail credit. Note-the depriciation under income tax act cannot be claimed on ITC credit claimed
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