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Whether input tax credit can be claimed on repairs to buliding- not capitalized

ITC / Input 462 views 4 replies
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Associate
63 Points Posted on 01 July 2018

Whether gst on inward supplies received for repairs to building can be claimed if these repairs are debited to p&l ,not capitalized in accounts?

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On 01 July 2018 at 19:36 Report
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GST Practitioner
55067 Points Posted on 01 July 2018

Yes,.. you can avail ITC on repair of Immovable property,...

Note : Just to take input,.. the expenses not in nature of repair should be booked as repair

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On 01 July 2018 at 19:47
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24196 Points Posted on 01 July 2018
If own building then ITC not available as per sec 17(5) of CGST act.
ITC  on repairs to immovable property shall be restricted only if such repairs are capitalized. In other words if the repairs are treated as revenue expense in the books of accounts, the ITC in respect of the same can be claimed.
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On 01 July 2018 at 19:58
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Associate
63 Points Posted on 01 July 2018
Sir it's our factory building . Repairs not in the nature to capitalize .then can we take itc ?
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On 01 July 2018 at 20:47
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24196 Points Posted on 01 July 2018
if the repairs are treated as revenue expense in the books of accounts, the ITC in respect of the same can be claimed.
1 Reply
On 01 July 2018 at 20:49


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