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Regarding ITC

mudit gupta (CA) (330 Points)

02 February 2018

dear sir
with respectfully I like to say that I want to know that I can take itc on laptop purchase for accounting of My business
plz guide me on this issue
REGARDS
MUDIT

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9 Replies

Manas Das (1431 Points)
Replied 02 February 2018

yes sir you can take

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Santosh Yadav (106 Points)
Replied 02 February 2018

Yes, its eligible for ITC

mudit gupta (CA) (330 Points)
Replied 02 February 2018

as a captial good

sujith kumar dasa (banglore) (1496 Points)
Replied 02 February 2018

yes you are eligible even on capital good if used for business purpose

sujith kumar dasa (banglore) (1496 Points)
Replied 02 February 2018

but you should capitalize GST amount and claim depreciation of GST amount

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mudit gupta (CA) (330 Points)
Replied 02 February 2018

if I capitalised this amount with gst and claim depreciation on amount with gst on laptop I cannot take itc on it

sujith kumar dasa (banglore) (1496 Points)
Replied 02 February 2018

but you should NOT capitalize GST amount and claim depreciation of GST amount

Prathmesh Mandlik (26 Points)
Replied 02 February 2018

Yes you are eligible to take 100% ITC on computer as a capital goods.
But the condition is you should capitalize the laptop in your books of account. you should use that laptop in the course of business. and you cannot claim depreciation on tax portion. you can claim depreciation on base value only.
When you sell that laptop the you have to pay GST on it .

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