Can a gst taxpayer claim ITC of GST on purchase of godown building materials?
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GST CREDIT on Building material
Replies (3)
ITC not available on Building matrial purchase for construction
BUT MATERIAL PURCHASED FOR REPAIRING COMPANY'S GODOWN
It depends how you treat repair expense. if you treat repair as capital expense (i.e.add to the asset value) then ITC will not be available. and if you treat repair as revenue exp then you can take ITC
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