CAN CLAIM GST, VAT + CST

[PRADEEP SHUKLA]

Dear Experts,

I would like to know that company has purchased a laptop & done payment from company current account. If we take purchased in Capital Goods / Fixed Assets of company can we avail ITC for the same on invoice raised by supplier ???

Please help me in this query

With Best Regards

Pradeep Shukla

Posts / Replies

[SIVARAMA KUMAR]

Yes ITC is eligible in full if your business consists of taxable services alone . In case you run a business partly taxable and partly exempted then you need to reverse the ITC for the exempted turnover ( common credit mechanism applicable as per the rules)

[Ganeshan Kalyani]

Either GST credit or depreciation benefit one can claim in GST.