itc claim
Pooja Mourya (24 Points)
23 October 2018
I had purchased new space for my office and paying gst on that can I claim itc
6 Replies
Rajasekhar
(Student CA Final )
(58 Points)
Replied 23 October 2018
either ITC or depreciation can claim on GST Amount.
If you claim ITC , that AMT will not include in depreciable AMT.
If you claim ITC , that AMT will not include in depreciable AMT.
Suvendu
(Accounts)
(429 Points)
Replied 23 October 2018
no ITC for inmovable assets as per my openion.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 23 October 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.
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