Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Whether input tax credit can be claimed on repairs to buliding- not capitalized

Eldhose MV (Associate) (63 Points)

01 July 2018

Whether gst on inward supplies received for repairs to building can be claimed if these repairs are debited to p&l ,not capitalized in accounts?

Reply
Follow
Share

4 Replies

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 01 July 2018

Yes,.. you can avail ITC on repair of Immovable property,...

Note : Just to take input,.. the expenses not in nature of repair should be booked as repair

Upgrade to CAclubindia Pro. Subscribe Now!

Vinod Babu (24191 Points)
Replied 01 July 2018

If own building then ITC not available as per sec 17(5) of CGST act.
ITC on repairs to immovable property shall be restricted only if such repairs are capitalized. In other words if the repairs are treated as revenue expense in the books of accounts, the ITC in respect of the same can be claimed.

1 Like