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claim input tax credit
A client installation his company A passenger lift. can he input claim ?????
Replies (2)
Depending on how he is showing in the books of accounts. If he is showing as revenue expense, he can claim ITC. If he is going to capitalise in the books, it will be treated as input on works contact/construction of immovable property and will be blocked credit.
If the lift install newly then it will under capital nature. So, ITC not available...
May be it's already installed and make repairs and maintenance then he can claim ITC...
May be it's already installed and make repairs and maintenance then he can claim ITC...
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