https://www.taxtmi.com/forum/issue?id=119158 ITC is generally admissible on acquisition of leasehold rights and an existing industrial shed acquired "as is where is" where no construction activity is involved. If modifications amount to construction, or costs are capitalised as part of an asset, the exclusion from ITC may apply. Determinative factors include lease term, asset useful life, payment structure (upfront acquisition versus periodic rent), and the accounting treatment (capital versus revenue expenditure), all of which influence whether the expenditure falls within the construction exclusion and thus affects ITC entitlement. en-us Thu, 13 Jun 2024 12:52:53 +0530 Fri, 24 Jan 2025 10:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119158 ITC is generally admissible on acquisition of leasehold rights and an existing industrial shed acquired "as is where is" where no construction activity is involved. If modifications amount to construction, or costs are capitalised as part of an asset, the exclusion from ITC may apply. Determinative factors include lease term, asset useful life, payment structure (upfront acquisition versus periodic rent), and the accounting treatment (capital versus revenue expenditure), all of which influence whether the expenditure falls within the construction exclusion and thus affects ITC entitlement. Discussion-Forum GST Thu, 13 Jun 2024 12:52:53 +0530 https://www.taxtmi.com/forum/issue?id=119158