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Commercial building rent

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srikumar

audit staff

1203 Points Posted on 17 July 2020

my client has running commercial building rent and collect gst, remitted to govt. now whether itc can claim at painting, lift constrct, new generator etc.. it is allowable?

Replies (3)

Quick Summary

This discussion explores whether businesses collecting GST on commercial building rent can claim Input Tax Credit (ITC) for expenses like painting, lift construction, and new generators. While ITC on lift construction is generally disallowed, painting costs are claimable if expensed, not capitalised. For generators, ITC is allowable if capitalised as machinery related to the building.

annu Goyal

1102 Points Posted on 17 July 2020

Do you want to claim ITC On construction of Building, Please clarify

CA Rashmi B

Assistant Manager

787 Points Posted on 18 July 2020

The lift construction related ITC cannot be availed as it restricted in sec 17(5) and the painting cost if capitalised to building cannot be availed however if it s chargee to p/l account the ITC can be availed. further if the generator is capitalised as machinary and to the building means the ITC can be availed.