GST Queries regarding input credits

Discussion in 'GST (Goods & Service Tax)' started by Sunita Choudhary, Aug 21, 2017.

  1. Sunita Choudhary

    Sunita Choudhary New Member

    I have a retail showroom and I have purchased computer, printer, bar code scanner machine for my business.
    Will I get the input credit on the GST paid on these good?

  2. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    The said items will be recorded as ‘capital goods’ in the books of accounts.
    ITC is available on capital goods PROVIDED depreciation is not claimed on the tax component.
    Cost of Asset100
    Tax @ 10%10
    Total Cost110
    If depreciation charged on Rs. 100 = ITC available
    If depreciation charged on Rs. 110 = ITC not available
    MUST: Possession of invoice & supplier shall upload it in the GSTN portal.

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