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ITC CLAIM

vijaykumar (student) (36 Points)

15 October 2018

am doing business, I purchased lift for renting the shop and I am showing rental income in GST monthly return.. wether I can claim ITC on lift.

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12 Replies

sanjith kotni (Articled assistant) (663 Points)
Replied 15 October 2018

yes you can claim as it is for furtherence of business and its eligible as per sec 16

Rakesh Joshi (CA Final) (1272 Points)
Replied 15 October 2018

Can you be more specific. Which type of business ?

vijaykumar (student) (36 Points)
Replied 15 October 2018

trading business...

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 15 October 2018

Is it rented or Your own...?

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 15 October 2018

Installation of Lift covered Under WCT so its block u/s 17(5) you can avail ITC

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 16 October 2018

Sorry Its "you cannot avail ITC "

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 16 October 2018

Sorry Its "you cannot avail ITC "

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RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 16 October 2018

If Rented premises and the said value booked under "Repairs and Maintenance" head then ITC available...

Rakesh Joshi (CA Final) (1272 Points)
Replied 16 October 2018

Yes. The availibility of ITC depends on the nature of business. If it is treated as repiars and maintainance then ITC can be availed otherwise Section 17(5) will be attracted.

Mahesh Rajeshirke (GST Practitioner) (24 Points)
Replied 16 October 2018

Work contract service for plant & Machinery is not blocked under sec. 17 (5) (c) . Lift is a machine & the service is work contract service related to plant & machinery. In my view ITC is allowed.

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 16 October 2018

IF YOUR CA ALLOW YOU TO BOOK UNDER REPAIR & MAINTENANCE , IN THAT CASE ITC IS AVAILABLE.

ITC IS AVAILABLE IF ITS NOT CAPITALISED

vamsi krishna (Article Assistant) (268 Points)
Replied 16 October 2018

Dear Querist,

As per first explanation to 17(5), plant and machinery excluded land and buildings, hence you should check fiollowing points to take ITC or not,
1) whether it is a works contarct service or not (you check the invoice issued by supplier in this regard) ??
2) whether capitalised in books of accounts or not ???

kindly let me know above facts to deceide your query

Thanks
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