When purchasing any Fix Asset & entered GST input, can claim for depreciation also.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 15 May 2021
CA GOURAV MITTAL
(Practicing Chartered Accountant)
(76 Points)
Replied 15 May 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 15 May 2021
GST is only for purchases and sales
Ajay Kumar
(Account Supervisor)
(129 Points)
Replied 04 June 2021
Simran Saroha
(Rajan Modi & Associates Chartered Accountant)
(13 Points)
Replied 08 June 2021
You can read the blog to uunderstand GST Registration:
https://rajanmodi.com/2018/04/03/complete-guide-gst-registration/
Susmita Dutta, CA , CPA
(CA )
(2141 Points)
Replied 09 June 2021
If you claim depreciation on GST paid while purchasing the fixed asset then you cannot claim ITC on the same and vice versa
Akshay Poriya
((artical assistant))
(313 Points)
Replied 11 June 2021
as per gst act, you can not claim both benefit either you claim the depreciation on including gst amount of fixed asset or claiming gst credit on such fixed asset and claim depreciation on ex gst amount .
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