My client is engaged in letting out of commercial properties. At the same time shares were managed by Asset Management Company(outsider). Can ITC on Management fees paid be availed against output on rent?????
Please suggest.
Gangeshwar (proprietor) (136 Points)
28 January 2020My client is engaged in letting out of commercial properties. At the same time shares were managed by Asset Management Company(outsider). Can ITC on Management fees paid be availed against output on rent?????
Please suggest.
Anup Agarwal
(1184 Points)
Replied 28 January 2020
Gangeshwar
(proprietor)
(136 Points)
Replied 28 January 2020
Anup sir, actually these are two different activities of the company. definitely it is for furtherance of business but the GST auditor is not accepting. Please share your opinion.
Anup Agarwal
(1184 Points)
Replied 28 January 2020
Gangeshwar
(proprietor)
(136 Points)
Replied 28 January 2020
Third party provided Portfolio management services. In other words sale of shares and mutual funds.
Company availed their services for profit maximisation and the sale proceeds were invested further in commercial properties or FDR.
Anup Agarwal
(1184 Points)
Replied 28 January 2020
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