GST Queries regarding input credits

#1
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?

Thanks
Sunita
 

Raju Choudhary

Administrator
Staff member
#2
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.
Example:
[xtable=border:1|cellpadding:0|cellspacing:0]
{tbody}
{tr}
{td}Cost of Asset{/td}

{td}100{/td}
{/tr}
{tr}
{td}Tax @ 10%{/td}

{td}10{/td}
{/tr}
{tr}
{td}Total Cost{/td}

{td}110{/td}
{/tr}
{/tbody}
[/xtable]
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.