ITC on repairs and maintenance building.
sachin vs (36 Points)
07 June 2018
can we take Input tax credit on repairs and maintenance work of company building....?
17 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 07 June 2018
The Company building is Your own building or Rented premises...?
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 07 June 2018
If own building then ITC not available as per sec 17(5) of CGST act...
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 07 June 2018
yes it comes under blocked credit
Suvendu
(Accounts)
(429 Points)
Replied 08 June 2018
I think ITC is blocked for construction of building but not in routine repair and maintance.
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 08 June 2018
the expression “construction” includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property.
Thus in my opinion, if you are capitalising the expenses for repair and maintenance then you will not get the ITC, but if you are charging it off as expense then you can avail the ITC.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 08 June 2018
Yes... I agreed to Mr. CA Shivam Arora...
chandan singh
(Senior Finance Associates)
(49 Points)
Replied 08 June 2018
NO, YOU CAN NOT TAKE CREDIT ON REPAIRS AND MAINTENANCE. IT IS COMES UNDER BLOCK ITC.
Vishnu Upadhyay
(Consultant)
(36 Points)
Replied 09 June 2018
ITC blocked includes repair and maintance
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 09 June 2018
IF ANY SUCH EXPENSES IS CAPITALISE TO BUILDING ACCOUNT , THEN NO ITC IS AVAILABLE, BUT IF IT IS BOOK UNDER REPAIR & MAINTENANCE ITC CAN BE AVAIL.
NOW IN MY OPINION IF IT IS MINOR REPAIR ,NO NEED TO CAPITALISE & ITC CAN BE CLAIM,.. BUT IF THE AMOUNT IS HUGE THEN SHOULD BE CAPITALISED & NO ITC IS AVAILABLE
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