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ITC on Factory Floor Painting Expenses

ITC / Input 3905 views 9 replies
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Finance Excecutive-Indirect Taxation
376 Points Posted on 10 September 2018
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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On 10 September 2018 at 09:00 Report
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CA in service
727 Points Posted on 10 September 2018
Yes you can claim itc.
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On 10 September 2018 at 09:14
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"Do the Right Thing...!!!"
128152 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.

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On 10 September 2018 at 09:38
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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)
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On 10 September 2018 at 09:59
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Accounts
429 Points Posted on 10 September 2018

you will get ITC against that.

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On 10 September 2018 at 10:51
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Partner
59 Points Posted on 10 September 2018
You cannot claim ITC if such expenditure is of capital nature
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On 10 September 2018 at 11:57
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"Do the Right Thing...!!!"
128152 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...
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On 10 September 2018 at 11:57
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24196 Points Posted on 10 September 2018
Agree with Mr Raja sir

ITC can be taken if accounted under repairs and maintenance.
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On 10 September 2018 at 13:37
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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....
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On 10 September 2018 at 13:49
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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.
1 Reply
On 13 September 2018 at 12:35


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