A friend purchased SS sheets for their rental building business and is seeking advice on claiming input tax credit (ITC) on the CGST and SGST paid. Currently, this is considered blocked ITC, although amendments from CBIC are anticipated. ITC is generally allowed for repairs and renovation expenses related to such properties.
14 September 2022
Sir, one of my friend purchase SS sheet ,total invoice value is Rs 75640 in this 11,528 is input from cgst and sgst. His core are if business is providing Rental building . can claim input . Please advise