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GST ITC
What type of ITC is not allowed if a building is leased?
Replies (5)
From whose point of view... And nature of expenses??
I am the lessor providing a building on lease to various entities.
I am asking what type of expenses are allowed and what not
I am asking what type of expenses are allowed and what not
Refer Section 17(5) for list of ineligible credits.(some of them are vehicle purchase, food & beverages, outdoor catering, construction, rent a cab, life & health insurance, club membership etc.)
Other than those mentioned in section 17(5) everything is eligible credit under GST.
All expenses for business purposes other than block credit refer in section 17(5) are eligible for itc.... Works contract services is not eligible for itc
building repair cost you can claim itc
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