ITC on repairs and maintanance

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Accountant
302 Points Posted on 09 November 2020

Is ITC available for repairs & maintenance shown in P/L account,means not capitalized? 

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On 09 November 2020 at 12:31 Report
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Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) is available for expenses related to repairs and maintenance that are recorded in the Profit & Loss (P&L) account and not capitalised. The consensus is that ITC can indeed be claimed for these types of expenditures.

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Accountant
75 Points Posted on 09 November 2020
Yes available
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On 09 November 2020 at 12:46
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Accountant
3662 Points Posted on 09 November 2020
Yes, you can claim ITC
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On 09 November 2020 at 12:47
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Student
23693 Points Posted on 09 November 2020
Yes Sir you can claim ITC on Repair and Maintenance Works which are not capitalized ( i.e. shown in P&L ).
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On 09 November 2020 at 15:43

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