Rate of depreciation on mobile phone

[Ashish Agarwal]

I have included my new mobile phone in my proprietary business as a fixed asset ( i even bought it in the name of my firm)

What shall be the rate of depreciation? Will be 15%(plant and machinary) or 40%(computers)?

I shall also be claiming ITC on the gst paid on buying this phone? I Hope i am eligible for it.

AI Summary

Depreciation on mobile phones treated as plant and machinery; cannot claim GST input credit if GST is capitalised.
Depreciation for a mobile phone used in a proprietary business is calculated by treating the phone as plant and machinery with the income tax depreciation rate of fifteen percent; a taxpayer who claims input tax credit on the GST paid cannot capitalise the GST component into the depreciable asset base for claiming depreciation.