Regarding Shop Itc

Respected members
I have purchase shop and 75000 gst on this shop can I claim this Itc or not ?
thank u advance
Replies (3)
Quick Summary
This discussion clarifies whether you can claim Input Tax Credit (ITC) on a purchased shop, especially concerning the GST paid. Generally, ITC is claimable if the shop is treated as a capital asset and depreciation has been availed. However, ITC is blocked if the shop was booked during its construction phase, as works contract services are specifically excluded under Section 17(5)(c) of the CGST Act 2017.

Yes,  you can claim 

ITC will be available to you provided you have shown shop as Capital Asset and availed depreciation on it.
No you cannot claim Input Tax Credit ( ITC ) on Shop booked at the under construction stage as the services of Works Contract is specifically BLOCKED under Section 17 sub section (5) clause (c) of the CGST Act 2017.

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