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Wether ITC available for immovable property renting services provider

16 March 2018

WETHER ITC AVAILABLE FOR IMMOVABLE PROPERTY RENTING SERVICES PROVIDER

when I m receiving rent against school building,

at that time I haves incurred some repairing expenses of which GST is available for ITC OR NOT??? against renting income GST

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12 Replies

abhilash (student) (411 Points)
Replied 16 March 2018

yes u can avail

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 16 March 2018

yes u can avail itc

Kiran Dubele (18 Points)
Replied 16 March 2018

sorry it's Whether not wether

but construction service is in negative list

Aashish Sachdeva (839 Points)
Replied 16 March 2018

i dont think so because only builder can avail ITC on such thing....

its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.

mahesh lata (student) (86 Points)
Replied 16 March 2018

yes available , if you not capitalize repairs

RAJA P M ("Do the Right Thing...!!!") (127140 Points)
Replied 16 March 2018

As per my View.,
ITC not available....

Divakar (Student CA Final ) (11857 Points)
Replied 16 March 2018

As per section 17(5)(d) ITC is available... If u charge that expense in ur profit & loss A/c and not capitalise it

1 Like

RAMESH KUMAR SINGLA (PROFESSIONAL) (1777 Points)
Replied 16 March 2018

I agree with Mr. Diwakar.

Manish S Thingalaya (student) (430 Points)
Replied 16 March 2018

if Inward supplies received by taxable person for
construction of immovable property on his own account
including when such supplies are used in the course or
furtherance of business then ITC can Claim as Per the Section 17(5)(d)

RAJA P M ("Do the Right Thing...!!!") (127140 Points)
Replied 16 March 2018

(d) goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of business.

Explanation: For the purposes of clauses (c) and (d), the expression “construction” includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property;