GST Benefits ??

[choudharyraj]

I want to buy a new phone. My friend suggests using the GST number for benefits, but how??
Please write ASAP

 

[BHAVESHKESWANI]

you can claim GST amount as Input tax credit, if you have use of phone for commercial purpose and additionally claim depreciation on basic amount in incometax act

 

[choudharyraj]

you can claim the GST amount as an Input tax credit, if you have use of phone for commercial purpose and additionally claim depreciation on basic amount in incometax act

Please provide some more brief explanations to understand. And what are the processes

 

[Prince]

The expenses done in buying the phone can be claimed as Depreciation over the life of Phone &
GST Input on the invoice can be claimed as GST Credit for Setting of the GST Liability against your sales.
So win win situation for you.

In case you need help in filling GST or Compiling Books of Account, you can connect with me.