GST CREDIT on Building material

This discussion clarifies whether GST Input Tax Credit (ITC) can be claimed on building materials purchased for repairing a company's godown. Generally, ITC is not available for materials used in constructing a new building. However, for repairs, it depends on how the expense is treated. If treated as a capital expense (added to the asset's value), ITC is unavailable. If treated as a revenue expense, you can claim the ITC.