We have given our warehouse (a commercial building) on rent to a company. Every month, I raise a rent tax invoice. I have to pay GST to government through GST return
Now, I want to understand on which items/services I can claim Input Tax Credit (ITC) so that I can adjust it against my output GST liability.
Input Tax Credit under GST for commercial property rent raises questions on eligible credits against output liability. Input Tax Credit eligibility under GST is queried for rental income from a commercial warehouse leased to a company. The question concerns monthly rent tax invoices, GST payment through returns, and which goods or services can qualify for Input Tax Credit so the credit may be adjusted against output GST liability arising from the rental supply. (AI Summary)