Input credit available for fitting extra lift outside
This query is : Resolved
13 November 2018
hi
lighting showroom(trading) in rental building, we have godown also in the top floor and we fitted one lift extra for goods movement. please let me know whether ITC available
lighting showroom(trading) in rental building, we have godown also in the top floor and we fitted one lift extra for goods movement. please let me know whether ITC available
13 November 2018
Yes... You can claim ITC if it's rented premises.
13 November 2018
Sir, can we treat this "lift" as furtherance of business as per section 17(5) gst?. we have also purchased tiles, cement , plywood , A/C etc for our upcoming additional showroom in the first floor which is also rented one and all are GST bill. Could you please let me know whether ITC is eligible for this or not. or capitalization only? thanks in advance
13 November 2018
Actually I confused Your query...
Rented means You are rented in that building or It's Your own...?
Rented means You are rented in that building or It's Your own...?
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13 November 2018
Yes... You can avail the ITC benefits if Landlord can't take it his own.
13 November 2018
it our own property and not to landlord. thank you sir for your help.
13 November 2018
No... ITC not available if the property is Your own and it's under asset head.
13 November 2018
ok sir, if we have addition of showroom say currently we are in ground floor and we are opening one more showroom in the first floor, so for renovation we are purchasing tiles, cement, AC etc , both having only one GST registration. can we take ITC for that cost incurred ?
13 November 2018
As per section 17(5) of CGST act ITC not available immovable property related except repairs and maintenance...
24 November 2018
sir,
we purchased one car for our mg partner in the name of firm. tcs1% is there. could u pls help me how to pass journal entry of tcs1%
we purchased one car for our mg partner in the name of firm. tcs1% is there. could u pls help me how to pass journal entry of tcs1%
24 November 2018
https://www.caclubindia.com/experts/details.asp?group_id=2701784
24 November 2018
https://www.caclubindia.com/forum/journal-entry-for-tcs1-on-car-purchase-by-firm-493317.asp
24 November 2018
https://www.caclubindia.com/forum/journal-entry-for-tcs1-on-car-purchase-by-firm-493317.asp
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