will be paying rent on factory with gst
can I avail the itc credit for the gst paid on rent
pls advise
7 Replies
CA Premanshu Jaiswal
(GST & Indirect Taxes Enthusiast)
(490 Points)
Replied 23 January 2020
Yes absolutely
Shivam RC
(Student)
(23683 Points)
Replied 23 January 2020
Yes you can claim ITC on GST paid towards your FACTORY RENT. As per the Provision of Section 16(1) of the CGST Act 2017, ITC on input, input services and Capital Goods used in the course of or furtherance of Business can be claimed, provided that all the "FOUR CONDITIONS" as laid down u/s 16(2) of the CGST Act 2017 has been satisfied.
Warm Regards.
Warm Regards.
Anshuman Basu
(account -GST)
(1556 Points)
Replied 24 January 2020
Sir what is the four condition as laid down 16(2) of the cgst act 2017?
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 24 January 2020
4 conditions are - Original Invoice, Services received, Tax has been paid by supplier and return has been filed.
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