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itc claim

Pooja Mourya (24 Points)

23 October 2018

I had purchased new space for my office and paying gst on that can I claim itc

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6 Replies

rahul (a) (1620 Points)
Replied 23 October 2018

no gst itc on building

1 Like

Rajasekhar (Student CA Final ) (58 Points)
Replied 23 October 2018

either ITC or depreciation can claim on GST Amount.
If you claim ITC , that AMT will not include in depreciable AMT.

1 Like

rahul (a) (1620 Points)
Replied 23 October 2018

rajasekhar as per gst act and notification no itc

1 Like

Suvendu (Accounts) (429 Points)
Replied 23 October 2018

no ITC for inmovable assets as per my openion.

2 Like

Hitesh (Student) (3549 Points)
Replied 23 October 2018

No you cannot claim itc

2 Like

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 23 October 2018

First, I assume that you are buying the property in under construction stage as only then you would be paying GST - thus raising the question of ITC.

In case constructed property is purchased no GST is a payable and thus no question of ITC.

Availability of ITC - No. In general, ITC is not available. Only exception is if you had purchased under construction property and are further providing construction service and selling the property. Such situations arise only in case of builders/ developers or business of the said nature.