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CAN I CLAIM ITC ON REWORKING OF FIRM

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GSTP
289 Points Joined February 2019

TEXTILE FIRM RENEWED,ALL EXPENSES LIKE INTERIOR DECORATION,TILES,AC,PAINT, ALL THESE GET GST INVOICES ,CAN I CLAIM THOSE ITC??

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On 16 September 2020 at 09:58 Report
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Tax and Business Consultant
11616 Points Joined July 2015
If this expense is capitalised in books of account, than ITC not available, if it's expensesd out as like repair and maintenance, than ITC can be taken on this. Whether to capitalise or not is depends upon a materiality of amount ect and other factors..
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On 16 September 2020 at 10:05
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137 Points Joined September 2020
Itc can not be claimed as it comes under the work contrct of immovable property which is blocked under GST
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On 16 September 2020 at 23:19
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Student
23688 Points Joined November 2017
If the amount is shown as a Revenue Expenditure and accordingly debited to P&L, then ITC is available.

But if it is capitalised, then no ITC.
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On 17 September 2020 at 00:19

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