ITC on loan processing charges

This discussion explores whether businesses registered for GST on commercial property rentals can claim Input Tax Credit (ITC) on GST charged on bank loan processing fees. While loans are often linked to immovable property, which has specific ITC restrictions, the consensus is that if the loan is essential for your business operations and the rental income is taxable, you can likely claim the ITC. It's advised to check if the processing charges are capitalised to the property, as this may affect eligibility.