Leasing or theare
nukanaboina maruthi (150 Points)
18 June 2020
please inform the rate of tax on leasing the cinema theatre and can we claim ITC on renovation of the theatre
2 Replies
David
(article Assistant)
(1644 Points)
Replied 18 June 2020
Hlo, for leasing Gst rate is 18%. The claim of ITC is depend on whether the expense incurred for renovation is capitalised or not. If it is capitalised you cannot claim ITC and ITC can claim if it is treated as repairs and maintenance.
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