Gst input credit rules for purchase office asset purchase

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M.Shanmugasundaram

Accounts

98 Points Posted on 18 May 2018

Dear Sir,

We open new office. And Office Interior work is going on.

1) Can calim GST Input Credit for this expenses? (Office Interior)

2) And GST Input is allowed for following expenses ?

Expenses for New Office

1) Office Interior Rs.3,00,000

2) Tables & Chair Rs.50,000

3) Other Furnitures Rs.50000

4) Electrical Exp Rs.75000

5) Air Contioner Rs.80000

6) Computer & Printer Rs.1,50,000

Any GST rules for take input credit for purchase asset materials ?

Thanks & Regards,

M.Shanmugasundaram

Replies (7)

Section 17(5) provides following goods or services input tax credit shall not he available

[d] goods or services or both received by a taxable person for construction of an immovable property [other than plant or machinery] on his own account including when such goods or services or both are used in the course or furtherance of business.

All other exp. Shall be allowed.

M.Shanmugasundaram

Accounts

98 Points Posted on 18 May 2018

Sir,

Thanks for your reply.

1) Can we take input credit from purchase of computer & Laptop for office use ?

2) Can we taken input credit from purchase of Furniture items for office Use ?

And now we are not construct a new office. Only Office alteration work is going on. (like.. Interior false ceiling work, Aluminium Door Work, Electrical Work)

Can we take input credit for the above Interior expense ?

Thanks & Regards,

M.Shanmugasundaram

CA Naveen Chand

Chartered Accountant

8022 Points Posted on 18 May 2018

for all input tax credit is available except on electricity exp

Nilkesh kumar

114 Points Posted on 18 May 2018

For the purpose of section 17(5) construction includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property;

Pankaj Rawat

GST Practitioner

29904 Points Posted on 19 May 2018

On office interior & electrical expenses you cannot take ITC as it will capitalised to Building account (as per section 17(5)

On remaining expense u can avail ITC

Garima jain

35 Points Posted on 23 May 2018

But there is option available on capital asset either to take itc or claim depreciation . Itc on capital asset is also available . That's my concern not a statement..