Can i take the ITC on Lease of Commercial property ?
Replies (7)
Quick Summary
This discussion clarifies the availability of GST Input Tax Credit (ITC) for leased commercial properties. The consensus is that ITC can generally be claimed on leased commercial property, even if it's a sale of a leased property, provided the GST invoice is valid. The confusion arose regarding completion certificates, but it was clarified that ITC is claimable based on the lease agreement and GST invoice, not the completion certificate of the property itself.
As my client had purchased a leased commerical place for office purpose which is leased for 30 Years and the supplier of service has raised a GST invoice and uploaded in GSTIN, Whether ITC available on leased commercial property can be taken or not?
Well the selling party is written " Sale of Leased Property in Product descripttion. As this ITC is covered under Section 17(5) of GST. On which GST is not applicable after completion certificate receving, In my case it is a completed as well as receiving of completion certificate. In that case also we can claim ITC?