https://www.taxtmi.com/article/detailed?id=10983 Expenditure is capital if it creates an enduring asset or right; it is revenue if it is integral to carrying on business without creating a fixed asset. Interior works in rented premises (painting, plaster of Paris, labour) do not produce a permanent asset or right and thus constitute revenue expenditure. Even where lease duration is long and benefits endure, the advantage is to business operation rather than a capital transaction. GST treatment and input tax credit/refund considerations may be governed by GST principles and administrative practice. en-us Fri, 13 Jan 2023 10:02:55 +0530 Fri, 13 Jan 2023 10:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10983 Expenditure is capital if it creates an enduring asset or right; it is revenue if it is integral to carrying on business without creating a fixed asset. Interior works in rented premises (painting, plaster of Paris, labour) do not produce a permanent asset or right and thus constitute revenue expenditure. Even where lease duration is long and benefits endure, the advantage is to business operation rather than a capital transaction. GST treatment and input tax credit/refund considerations may be governed by GST principles and administrative practice. Articles Income Tax Fri, 13 Jan 2023 10:02:55 +0530 https://www.taxtmi.com/article/detailed?id=10983