GST Input can be claimed for any type of Building

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This query is : Resolved

Quick Summary

This discussion clarifies that GST input tax credit (ITC) can be claimed for repairs and maintenance expenses related to both office and factory buildings, provided these are considered revenue expenditures. Revenue expenses are typically those debited to the profit and loss account and not capitalised as assets, with compliance to accounting standards being a key factor.

Daya

Daya (Querist)

12 February 2022 whaether GST input can be claimed for factory building also.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

12 February 2022 GST input can't be claimed on building including factory building.

CA Altamush Zafar

CA Altamush Zafar (Expert)

13 February 2022 ITC cannot be taken on capital expenditure but can be taken on revenue expenditures like repairs etc.

Daya

Daya (Querist)

13 February 2022 SIR,
GST input can be claimed regarding repairs and maintenance of Official as well as Factory Building also for commercial activities,
and what is revenue expenses.

CA Altamush Zafar

CA Altamush Zafar (Expert)

13 February 2022 Yes ITC on repair maintenance of office and factory building is allowed. Expenses of revenue nature are those which are debited in profit & loss account and not capitalised with asset.

Daya

Daya (Querist)

13 February 2022 BUT SIR,
JUST I WANT WHEN TO DEBITED IN PROFIT AND LOSS ACCOUNT. ITS ANY CRITERIA.

CA Altamush Zafar

CA Altamush Zafar (Expert)

13 February 2022 Yes you need to see the compliance with accounting standards

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