Dear Sir / Madam
I am asking a query regarding ITC on purchase of immovable property for further business setup. We are having business of sales & service of auto ancillary products.
Now the question is that whether the paid GST on the purchase of immovable property can be availed for ITC or not? If the same is not available then kindly share the supporting notification in respect of such documents.
Thanks & Regards
Ramesh Bohra
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GST ITC on Commercial Property Purchase
Replies (3)
Thanks for bringing up this important question, Ramesh.
As far as I know, ITC on the purchase of immovable property is generally not allowed under Section 17(5) of the CGST Act unless the property is used for further supply of works contract service. However, there may be exceptions based on the business model or structure. Speed Stars
Would love to hear from others if there have been recent clarifications or case-specific rulings!
Not allowed under section 17(5) of the CGST act 2017. The supporting notifictions can be found in this section of the act.
Not allowed under section 17(5) of the CGST act 2017. The supporting notifictions can be found in this section of the act.
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