Dear Experts
We have spent expenses for Factory Floor Painting value Rs.500000 GST Rs. 90000 (ITC availed) and the same has been treated as Capital Expenses.
My doubt is 1) whether we can claim the above GST as ITC or ineligible credit? Please clarify
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ITC on Factory Floor Painting Expenses
Replies (9)
Yes you can claim itc.
(and the same has been treated as Capital Expenses.)
No way for ITC if You are booked under Capital.
Sir this is works contract and which is coming under Building completion and finishing services (SAC-995473)
you will get ITC against that.
You cannot claim ITC if such expenditure is of capital nature
@ 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...
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...
Agree with Mr Raja sir
ITC can be taken if accounted under repairs and maintenance.
ITC can be taken if accounted under repairs and maintenance.
Thanks to all... We have booked as Capital Expenditure so ITC will be ineligible....
In both cases whether you are booking it as repair & maintenance or capital expenditure ITC credit for GST is not available.
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