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ITC AVAILABLE ON LIFT INSTALLED IN COMMERCIAL BUILDING GIVEN FOR RENT, Goods and Services Tax - GST |
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ITC AVAILABLE ON LIFT INSTALLED IN COMMERCIAL BUILDING GIVEN FOR RENT |
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Dear Expert, We have purchased one lift leving gst and installed in building given on rent for commercial purpose. My query is whether GST paid on Lift in Dec.23 will be available till 30th Sept.24 as we have not show this in any gst return till now. Please give your expert opinion. REGARDS, WADHWA
Posts / Replies Showing Replies 51 to 52 of 52 Records
Dear all ITC on lift-- tsunami of divergent researched opinions are running in parallel on the same query. The effect is, there is no unanimity on legal position. I feel this bitter truth really is stranger than fiction. Democracy guarantees freedom of expression. Everyone has to respect it.
Dear all Experts,
Installation of the lift in the building is not eligible to avail ITC since it is treated as part of immovable property. It is blocked u/s 17(5) (d). During the VAT period also, there were cases of ITC disallowance.
With regards.
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