Dear Team,
There is a confusion and difference of opinion regarding allowability of ITC on purchase of lift... The usage of lift will be in factory only for movement of goods and not staff...
Is there any difference in opinion if the use of lift is for staff members and not goods...
Debate on GST Input Tax Credit for Lifts: Goods Transport vs. Staff Use, Capital Goods, and Depreciation Rules A discussion on the Goods and Services Tax (GST) implications of input tax credit (ITC) on lifts used in factories and offices. Participants debated whether ITC is allowable when lifts are used for transporting goods versus staff. Some experts argued that ITC is permissible when lifts are used for moving goods, as they are considered part of plant and machinery, but not when used for staff, as they fall under plant facilities. Others suggested that lifts qualify as capital goods and ITC is allowable, provided depreciation isn't claimed under income tax provisions. The discussion also touched on GST rates for lifts used in personal premises. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
TaxTMI 
