Itc set off against rent

This query is : Resolved

ANKUSH (Querist)
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23 August 2018 An individual engaged in the business of exports of garments under LUT in the year of 2017-18. He has balance of input tax credit in their respective IGST/CGST/SGST ledger on gst portal which is refundable to him.

He shut downs his business in April 2018 and rent out the whole building for commercial purpose on which he charged GST on Rent @ 18% .

Can he set off the input tax credit of export business against the GST liability of rental Income.
Pls provide the reference/ provision of act/law.

Thanks

Rajesh Kumar

Rajesh Kumar (Expert)
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24 August 2018 Yes. There is no need to have one to one correlation between input tax credit and taxable output services. Input tax credit received on one business can be used to pay tax on other business by an assessee.

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