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Leasing or theare
please inform the rate of tax on leasing the cinema theatre and can we claim ITC on renovation of the theatre
Replies (2)
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.
Thank your sir
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