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ITC on Painting Material

Jatin (Accountant) (3479 Points)

04 June 2018

Can i take ITC on painting materials

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7 Replies

Vinod Babu (24191 Points)
Replied 04 June 2018

Brief your query. Mention the nature of your business.

Jatin (Accountant) (3479 Points)
Replied 04 June 2018

New office painting expenses

RAJA P M ("Do the Right Thing...!!!") (126993 Points)
Replied 04 June 2018

The above said new office is Your own building (Capital asset / Immovable property) or Rented premises...?

Jatin (Accountant) (3479 Points)
Replied 04 June 2018

Raja PM Sir, rented premises

RAJA P M ("Do the Right Thing...!!!") (126993 Points)
Replied 04 June 2018

If rented premises then YOU CANNNNNNNN

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Vinod Babu (24191 Points)
Replied 04 June 2018

As per section 16 of the CGST, Act 2017 ITC on capital goods is allowed subject to the fulfillment of the conditions.

In addition, you cannot claim depreciation on the tax component of capital goods

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josh praveen (3 Points)
Replied 23 January 2019

We are running a hospital in a rented building and we bought painting material can we claim the ITC for paints purchased.

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