Can a gst taxpayer claim ITC of GST on purchase of godown building materials?
3 Replies
satish kumar Chauhan
(accountant)
(347 Points)
Replied 25 March 2022
ITC not available on Building matrial purchase for construction
MR. BASAK
(ACCOUNTANT)
(107 Points)
Replied 25 March 2022
BUT MATERIAL PURCHASED FOR REPAIRING COMPANY'S GODOWN
saurav
(student)
(48 Points)
Replied 25 March 2022
It depends how you treat repair expense. if you treat repair as capital expense (i.e.add to the asset value) then ITC will not be available. and if you treat repair as revenue exp then you can take ITC
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