Gst input credit for rental properties
This query is : Resolved
18 February 2018
Hi Experts,
I run a business incorporated as a Partnership, the main business being commercial property rental. On acquiring the property I have to pay the developers a 12% GST, if the property is being acquired before occupancy certificate is received. I have prebooked a underconstruction property as an investment which I hope to rent in the future.
Post occupancy, the tenant will be paying GST on my behalf. Can I claim the GST paid to the developer as an input credit and seek refund?
Regards
Nitish
I run a business incorporated as a Partnership, the main business being commercial property rental. On acquiring the property I have to pay the developers a 12% GST, if the property is being acquired before occupancy certificate is received. I have prebooked a underconstruction property as an investment which I hope to rent in the future.
Post occupancy, the tenant will be paying GST on my behalf. Can I claim the GST paid to the developer as an input credit and seek refund?
Regards
Nitish
18 February 2018
Input credit can't be claimed on property rented out. ITC rules not allowing such claim.
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