Itc guery
Ravi KUMAR (34 Points)
22 July 2022
we build factory shed. then we give that on rent. Can I claim ITC against rent income payable gst
CA. ANKIT PANDYA
(CA)
(682 Points)
Replied 22 July 2022
Section 17 (5) clause (c) & (d), specifically restricts ITC on construction of immovable property,
"goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of business."
So, in your case factory shed being an immovable property , even though you are using it for renting it out in your course of business, ITC on the same in ineligible and you cannot claim it,
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