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ITC on Repairs and Maintenance
Hi everyone i need a clarification can resident welfare association claim ITC on Repairs and maintenance of buildings and it's renovation.
Replies (7)
No it's blocked u/s 17(5)
Yes ,.can claim ITC but if its capitalised then no ITC
If charged to P/L a/c then can cliam itc......
Yes... I agreed to Mr Pankaj Rawat Ji view...
The RWA claim ITC for the Repair and Maintenance related expense.
In case RWA will booked under capital nature then no way for claim ITC 🙃🙃🙃.
The RWA claim ITC for the Repair and Maintenance related expense.
In case RWA will booked under capital nature then no way for claim ITC 🙃🙃🙃.
Hello everyone If the same is included in p&l ITC refund can be claimed by the society even if it does not charge GST to it's members?
RWAs exempted from GST for services up to a limit of Rs 7500 per month per member. - Jan 25, 2018, notification (Cross check if any other latest change in the same)
The annual turnover limit - RWA- remains unchanged - 20 lakhs - Excess of this attracts @ 18% GST
But my query is - Is ITC not available w.r.t. taxes paid on - Capital Goods - like Furniture, Power Backup systems etc ..?
YES , YOU CAN AVAIL ITC ON FURNITURE , POWER BACKUP SYSTEM..
BUT ANY EXPENSES WHICH IS CAPITALISED TO BUILDING ACCOUNT THE ITC BLOCK UNDER SECTION 17(5), FOR EXAMPLE ANY CONSTRUCTION WORK TO BUILDING
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