ITC on Factory Floor Painting Expenses

Anirban Sinha

CA in service

727 Points Posted on 10 September 2018

Yes you can claim itc.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 10 September 2018

(and the same has been treated as Capital Expenses.)
No way for ITC if You are booked under Capital.

V.Marimuthu

Finance Excecutive-Indirect Taxation

376 Points Posted on 10 September 2018

Sir this is works contract and which is coming under Building completion and finishing services (SAC-995473)

Suvendu

Accounts

429 Points Posted on 10 September 2018

you will get ITC against that.

Daaman Kukreja

Partner

59 Points Posted on 10 September 2018

You cannot claim ITC if such expenditure is of capital nature

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 10 September 2018

@ Mr. V Marimuthu.,

Yes Dear...

If You are booked under Repairs and Maintenance then You can avail the ITC benefits...

In case it's capital expenditure then ITC not available as per sec 17(5) of CGST Act...

***(and the same has been treated as Capital Expenses.)

As per Your words, I say it...

Vinod Babu

24196 Points Posted on 10 September 2018

Agree with Mr Raja sir

ITC can be taken if accounted under repairs and maintenance.

V.Marimuthu

Finance Excecutive-Indirect Taxation

376 Points Posted on 10 September 2018

Thanks to all... We have booked as Capital Expenditure so ITC will be ineligible....

Manjeet Saini

21 Points Posted on 13 September 2018

In both cases whether you are booking it as repair & maintenance or capital expenditure ITC credit for GST is not available.

Menu

V.Marimuthu

Anirban Sinha

RAJA P M

V.Marimuthu

Suvendu

Daaman Kukreja

RAJA P M

Vinod Babu

V.Marimuthu

Manjeet Saini

Leave a Reply

Recent Threads

Related Threads

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

GST CONSULTANT

Accountant

Senior Executive

CA Final

Menu

Forum Search

ITC on Factory Floor Painting Expenses

Leave a Reply

Recent Threads

Related Threads