Set-off of ITC on items purchased against additions of building against rental income
This query is : Resolved
05 April 2023
proprietary ship firm owns building and getting rents from the property and wants to make additions to the existing building .
the Quarry is
the firm can claim ITC on purchases for construction of additions for the existing building
and
can it set-off the ITC against the output tax on rental income
the Quarry is
the firm can claim ITC on purchases for construction of additions for the existing building
and
can it set-off the ITC against the output tax on rental income
06 April 2023
ITC can't be claimed on building construction it's blocked credit.
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