Itc on gst on rent of land and building
This query is : Resolved
28 June 2019
Sir,
We have given our factory on lease at Rs 3 lac pm in which Rs 2 Lac is for rent on land and building and Rs 1 Lac is for rent on plant and machinery. We receive Rs 54000 as GST (36000 +18000).
Question-
As we make new addition of machinery ,can we claim ITC on GST paid on new machine against GST paid on L&B or only GST of P&M can be adjusted ??
We have given our factory on lease at Rs 3 lac pm in which Rs 2 Lac is for rent on land and building and Rs 1 Lac is for rent on plant and machinery. We receive Rs 54000 as GST (36000 +18000).
Question-
As we make new addition of machinery ,can we claim ITC on GST paid on new machine against GST paid on L&B or only GST of P&M can be adjusted ??
28 June 2019
There need not be any one to one matching for setting of ITC with the GST liability. The ITC availed on machinery can be used to pay liability of GST on L&B as well.
28 June 2019
Sir As we buy a machine for 2 Lac where we pay GST Rs 36000.Can we set off it against payment on GST of rent on L& B as well as rent on P&M as the mqchine have no relqtion with L&B
01 July 2019
Yes it can be set off.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Small dealers gst returns filing
- Free lancer income
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
