Input Tax Credit

[VIGNESH]

sir .is Input Tax on the AMC charges paid for lift allowed? client has only rental income from commercial property for which he is paying service tax!

AI Summary

Debate on Allowability of ITC for Lift AMC Charges Linked to Rental Income Under CGST Act, 2017 A query was raised regarding whether Input Tax Credit (ITC) on Annual Maintenance Contract (AMC) charges for a lift is allowable when the client has rental income from commercial property and pays service tax. One expert stated that ITC is not allowed for repairs capitalized as part of immovable property under the CGST Act, 2017. However, others argued that service tax credit for AMC on lifts is allowable as it supports the renting of commercial property service, which is taxable. Case laws were suggested to support this view. There was also a clarification distinguishing between Cenvat Credit and ITC.