GST CREDIT FOR INTERIOR WORK

1731 views 3 replies

Aswathi

accountant

65 Points Joined February 2015

Dear all,

I want to know if GST credit is available for the interior work done in the new office

Interior Work include

1. Partition by Gypsum wall

2. False Ceiling

3. Providing Tables for the work area

4. Electrical work

Please somebody help in understanding if we could avail the GST credit on the interior work considered?

Replies (3)

In my opinion, if your going to capitalise the entire cost, then you can not avail itc.
If in P&L, you can claim.
For tables you should treat them as Furniture and can avail itc on it even if you are capitalising it(excluding gst)

Aswathi

accountant

65 Points Joined February 2015

Thanks Anoop @ AnoopBansal

if it is in P&L, under what expense category would you consider it?

Shivam RC

Student

23688 Points Joined November 2017

If the Interior Work is being Capitalised, then ITC is specifically BLOCKED under Section 17(5) clause (c) of the CGST Act 2017 [ except Tables which you can consider it as a Fixed Asset under Balance Sheet ( Furniture & Fixtures ) and claim ITC on the GST portion ].

But if it is shown in the P&L as "REPAIRS and MAINTENANCE" Expenditure, then you can claim ITC.

Regards,
Shivam RC.