ITC on loan processing charges

Yes you can take the itc

It is not provided anywhere in the Act whether you can take ITC on Bank loan processing charges.
But the act specifies some case under Section 17(5) which are ineligible for ITC and Interest on bank loan processing charges is not given there.

Therefore you can take the ITC on the same, as taking loan for the purchase of Commercial property is essential to carry out your business.

Thanks

Thanks for your reply,
my thought behind this question is the loan is taken for immovable property and section 17(5) blocked credit for any goods or services related to immovable property.

But the immovable property is going to let out (rented) & rental Income from commercial property is taxable in GST.

So in term of Section 16 the ITC can be claimed as it is in course of business.


Note : For repair expenses on Account of Immovable property the ITC is available , So if the Loan processing charges is not capitalise to Immovable Property the ITC is available.