Sirs,
I purchsed an elevator, installed in my building and rentrd the building. Raised bills to tenants and charged GST. Whether I can avail ITC against GST paid on elevator, Generator set, electrical fittings etc which are must for a multistoreyed building. I know I can not avail GST credit on cement, colour, doors, windows etc.
Please guide me.
Thanks.
Mukesh
As per section 17(5)(d) of CGST Act, you may not claim the ITC of goods or services received for construction of immovable property however you can claim ITC if such goods or services are used for the construction of plant and machinery.
In your case, you have purchased cement, color, doors, windows etc. for construction of building hence you are not eligible to claim ITC for the same whereas elevators, generator sets & electrical fittings are used for the construction of plant and machinery thus you are eligible for claiming ITC on the same.
I bought a lift for Residential Purpose . Can i claim Input credit
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