Leasing or theare

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150 Points Posted on 18 June 2020
please inform the rate of tax on leasing the cinema theatre and can we claim ITC on renovation of the theatre
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On 18 June 2020 at 19:48 Report
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This discussion clarifies the Goods and Services Tax (GST) rate applicable to leasing a cinema theatre, which is 18%. It also addresses the eligibility for claiming Input Tax Credit (ITC) on renovation costs. The ability to claim ITC depends on whether the renovation expenses are capitalised or treated as repairs and maintenance.

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1644 Points Posted on 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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On 18 June 2020 at 20:16
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150 Points Posted on 18 June 2020
Thank your sir
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On 18 June 2020 at 20:59

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