Dear Sir,
we are a manufacturer of automobile components on j/w basis and our factory
premises is in a leased land. The land is taken for lease for a period of 35 years and the necessary factory building constructions are built by us by our own . we are paying monthly lease rent for the land and the land lord is giving his lease charges with GST and we are availing GST ITC Credit based on the Land lord invoice.
we have seen some AAR recently on this leased premises some ITC confusion.
Hence we request guidance from our experts panel on the GST ITC Credit as eligible or not eligible on the Lease charges for the Land.
Thanking you
V Swaminathan