whether gst regd person can claim input credit of gst paid on purchase of commercial premises
Input credit of GST paid on purchase of commercial premises
Satish Kavitake (389 Points)
11 December 2018
6 Replies
pritesh
(CA Final student)
(7101 Points)
Replied 12 December 2018
First, I assume that you are buying the property in under construction stage as only then you would be paying GST - thus raising the question of ITC.
In case constructed property is purchased no GST is a payable and thus no question of ITC.
Availability of ITC - No. In general, ITC is not available. Only exception is if you had purchased under construction property and are further providing construction service and selling the property. Such situations arise only in case of builders/ developers or business of the said nature.
In case constructed property is purchased no GST is a payable and thus no question of ITC.
Availability of ITC - No. In general, ITC is not available. Only exception is if you had purchased under construction property and are further providing construction service and selling the property. Such situations arise only in case of builders/ developers or business of the said nature.
Prajwal Shetty
(Artical Assistent)
(237 Points)
Replied 12 December 2018
The above provisions is covered in sec 17 of CGST act.
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