https://www.taxtmi.com/manuals?id=7962 Capitalisation for ITC denial depends on accounting treatment: items capitalised in the claimant's books are treated as capital goods and may be subject to ITC restriction, whereas stores, spares and similar items charged to revenue are not capital goods and ITC on them cannot be denied provided they are used for business or taxable supplies. Administrative guidance confirms that the distinction between inputs and capital goods is governed by whether the value has been capitalised in the books, so invoice and accounting treatment determine ITC eligibility for repair and renovation expenses. en-us Wed, 06 Aug 2025 16:39:00 +0530 Thu, 07 Aug 2025 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=7962 Capitalisation for ITC denial depends on accounting treatment: items capitalised in the claimant's books are treated as capital goods and may be subject to ITC restriction, whereas stores, spares and similar items charged to revenue are not capital goods and ITC on them cannot be denied provided they are used for business or taxable supplies. Administrative guidance confirms that the distinction between inputs and capital goods is governed by whether the value has been capitalised in the books, so invoice and accounting treatment determine ITC eligibility for repair and renovation expenses. Manuals GST Wed, 06 Aug 2025 16:39:00 +0530 https://www.taxtmi.com/manuals?id=7962