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Can GST Input credit be claimed on Repair and Maintenance of Building? GST ITC on repair and maintenance of Building can be claimed only if it amounts to routine repairs not the construction of the immovable property. Let us discuss the following along with the provisions of the CGST Act, 2017. GST Input credit can…
Whether ITC on Bank Charges is eligible or not? The ITC on bank charges is an eligible credit only if conditions mentioned in Section 16 of CGST Act,2017 are fulfilled. Bank charges input credit also does not fall within the ambit of Blocked credit in Section 17(5) of CGST Act,2017. We have discussed this issue…
Apportionment of GST credit and Blocked Credits under Section 17(5) Section 17(1) to Section 17(4) deals with when Input tax credit can be claimed, while ineligible or blocked credits under GST are dealt with under Section 17(5) of the CGST act. Apportionment of credit – Section 17 Goods and Service tax Input credit is available…
Conditions for eligibility of GST Tax credit under Section 16 GST Input tax credit has been further classified into Eligible and Blocked Credits. Blocked Credits are dealt with under Section 17(5) while Section 16 deals with GST Input tax credit eligibility and conditions. Before we proceed onto Blocked and Eligible credit, let us first understand…
