Itc on immoveble property
Manmeet Manmeet 09 December 2019
we have purchase a plot to use for transport business from goverment body (Raipur pradhikaran) basis of 30 years lease, they have charge 9%+9% gst, can we take itc on this purchase. we are already B2B dealer .
RAJA P M ("Do the Right Thing...!!!") 09 December 2019
Are You purchase the plot or Taken Lease...??
Manmeet Manmeet 09 December 2019
We have purchase on 30 years lease and will renewed every 30 years, fully ownership
RAJA P M ("Do the Right Thing...!!!") 09 December 2019
I can't understand for this is purchase...!!
As per Your query & reply if it's purchase then ITC not available...
If it's lease then You can claim ITC...
VISHAL JAIN 09 December 2019
Yes you can claim the tax paid on such lease because if you purchase such property then GST will not levy instead GST Normal Stamp Duty will be levy and no question of credit will arise.
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