ITC ON BULDING REPARING & MAINTENANCE IN HOTELINDUSTRIES
This query is : Resolved
26 December 2019
ITC AVAILABLE ON BUILDING REPARING & MAINTENANCE IN HOTEL & HOSPITALITY INDUSTRIES ?
26 December 2019
If the expenditure incurred on repairs and maintenance is capitalized to the building in the books of accounts, then the ITC on the same cannot be availed. However, if the same is expensed off in the books then the same can be availed as the restriction in sec. 17(5) says that the goods or services used in construction of any immovable property on own account is restricted and the term construction means alteration, repair, renovation....... to the extent of capitalized to the said immovable property in the books of accounts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
