Hy All
our factory is in rental premises, We are paying 200k rent per month
we recently installed lift in factory...
Q. 1 Can we get ITC on purchase of lift( I think no,but we are in rental premises We dismental it after leaving our rented factory and
installed in other factory)
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LIFT ITC
Replies (6)
If you will be capitalising the lift in your leashold premises then there is no ITC
Thanks Sir,
But we rented factory
But we rented factory
What will be your accounting treatment?
We haven't taken itc
Yes correct no ITC.............
If u have shown purchase of list as fixed assets, than No ITC, otherwise u can claim
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