banner_ad

CAN I CLAIM ITC ON REWORKING OF FIRM

Others 212 views 3 replies
User Avatar

GSTP
289 Points Posted on 16 September 2020

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

0 Reply Share Follow
On 16 September 2020 at 09:58 Report
Replies (3)
User Avatar

Tax and Business Consultant
11616 Points Posted on 16 September 2020
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..
Reply
On 16 September 2020 at 10:05
User Avatar

137 Points Posted on 16 September 2020
Itc can not be claimed as it comes under the work contrct of immovable property which is blocked under GST
Reply
On 16 September 2020 at 23:19
User Avatar

Student
23693 Points Posted on 17 September 2020
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.
1 Reply
On 17 September 2020 at 00:19


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details