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GST ITC

Neha Kankani (17 Points)

06 February 2018

What type of ITC is not allowed if a building is leased?

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5 Replies

Divakar (Student CA Final ) (11857 Points)
Replied 06 February 2018

From whose point of view... And nature of expenses??

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Neha Kankani (17 Points)
Replied 06 February 2018

I am the lessor providing a building on lease to various entities.
I am asking what type of expenses are allowed and what not

Dhananjay saraf (Chartered Accountant) (254 Points)
Replied 06 February 2018

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.

Divakar (Student CA Final ) (11857 Points)
Replied 06 February 2018

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