28 October 2021
We are in the business of shipping where we acquire old barges and sublet to other companies on rent. Further, repairing and maintenance of barges are borne by us (in which we use iron bars, pipe tubes, aluminum, other metals, LED lights, etc. Such expenses are nearly 10% of the total rents we received.) Can we claim ITC on the items used for repairing of the barges?
CAclubindia
