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ITC on Painting Material

ITC / Input 1295 views 7 replies
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Accountant
3479 Points Joined August 2014
Can i take ITC on painting materials
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On 04 June 2018 at 13:42 Report
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24196 Points Joined May 2018
Brief your query. Mention the nature of your business.
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On 04 June 2018 at 13:59
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Accountant
3479 Points Joined August 2014
New office painting expenses
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On 04 June 2018 at 14:07
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
The above said new office is Your own building (Capital asset / Immovable property) or Rented premises...?
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On 04 June 2018 at 14:15
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Accountant
3479 Points Joined August 2014
Raja PM Sir, rented premises
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On 04 June 2018 at 14:19
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
If rented premises then YOU CANNNNNNNN
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On 04 June 2018 at 14:23
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24196 Points Joined May 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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On 04 June 2018 at 14:25
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3 Points Joined 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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On 23 January 2019 at 20:35

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