TaxTMI 
TaxTMI 
TaxTMI 
Input Tax Credit for Leasing if Commercial Property
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....nput Tax Credit for Leasing if Commercial Property<br> Query (Issue) Started By: - Raunak Bhandari Dated:- 26-5-2018 Last Reply Date:- 27-5-2018 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>I have lease out commercial office spaces on rent and I'm collection 18% gst on the same. Can you please let me know if I can claim input tax credit for this supply? Reply By KASTURI SETHI: The Rep....
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....ly: What is your taxable supply' ? Reply By YAGAY and SUN: The Reply: Yes, you can claim ITC on the tax paid on Maintenance of this commercial property. Reply By KASTURI SETHI: The Reply: I support the views of Ms.YAGAY and SUN, Sirs. Reply By Nitika Aggarwal: The Reply: Dear Sir, As per Section 16 of CGST Act, 2017, every registered person is eligible to take the credit of tax charged....
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.... on any supply of goods or services which are used or intended to be used in the course or furtherance of its business. "Eligibility and conditions for taking input tax credit. 16. (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of good....
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....s or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person." Since, in your case, the person is engaged in the business of providing its commercial property on rent, thus it is squarely covered under the ambit of term business as defined under CGST Act, 20....
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....17 and accordingly eligible to take the credit of such input and input services which are used for the provision of aforesaid taxable services. Thus, there is no bar in the law with regard to the services provided by your goodself in order to avail the ITC of goods or services which are used for the provision of taxable outward supply. Regards Nitika Aggarwal 9953157961 Reply By DR.MARIAPPAN ....
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....GOVINDARAJAN: The Reply: I endorsed the views of the experts.<br> Discussion Forum - Knowledge Sharing ....