If we take input on purchase of laptop..and claimed in gst portal...
then can we claim depreciation for basic amount of laptop....purchased
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Input tax credit
Replies (4)
Yes excluding gst amount
Yes, you can take depreciation on basic amount excluding GST, which is capitalised in your books of account.
Yes in term of Section 16(3) you can claim ITC on value before GST .
You have to capitalise only taxable amount excluding gst portion so you can claim depreciation only on taxable value over the life of asset
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