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ITC on building

AJAY KUMAR (accountant) (213 Points)

03 August 2019

can I take input on repair of building
if I take depression then I take ITC ??

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10 Replies

Sai Prabhu Narayanan (Articled assitant ) (161 Points)
Replied 03 August 2019

TO the best of my knowledge ,I think you can't avail ITC as its Blocked under 17(5) You only avail ITC related plants and Machinery of a concern

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 03 August 2019

Originally posted by : AJAY KUMAR
	can I take input on repair of buildingif I take depression then I take ITC ??

Here the property is Your own or Rented...?

Shrikant Toshniwal (TAX CONSULTANT) (1109 Points)
Replied 03 August 2019

u can take it depreciation but dont Take itc on repairs of building for business use

Shivam RC (Student) (23683 Points)
Replied 03 August 2019

You can claim Depreciation @ 10% on Office Building u/s 32 of the Income Tax Act 1961.

But as far as ITC on Repairs of Building are concerned, the credit of works contract is BLOCKED u/s 17(5) of the CGST Act 2017.

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 03 August 2019

Any expenses captilised to Building Account , ITC cannot be claim

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subhagan sreerangam (7054 Points)
Replied 03 August 2019

good clarification and information

Shivam RC (Student) (23683 Points)
Replied 04 August 2019

Paints and Pain brushes purchased by GST Registered dealer for painting business premises. My question is whether the person is eligible to claim ITC on paints and brushes ???