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Reg.Labtop

14 September 2019

Sir,

We have purchased laptop for
business purpose. bill reflect in 2A. Can we claim ITC and deprecation on Laptop.
please advise

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3 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 14 September 2019

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.

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Shivam RC (Student) (23683 Points)
Replied 15 September 2019

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.

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