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ITC eligible

GUDIPUDI CHENNAKESAVULU (audit) (105 Points)

09 August 2018

itc can take repair and maintenance building and travelling expenses for who having only rental income

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3 Replies

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 09 August 2018

As per my view.,

The Repairs and Maintenance will be accounted under Repairs and Maintenance head then You can claim ITC...

If You will book the Repairs and Maintenance charges to Capital account then no way for claim ITC...

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CA Bhavik Soni (867 Points)
Replied 21 August 2018

it is specifically covered under blocked credit list mentioned in sec 17(5) of cgst act. According to this, itc not available on repairs and maintenance of building.