XYZ is a commercial cooperative society having commercial offices. XYZ is registered with GST. They incur expenses such as 1) Building repair work include replastering, water proofing, painting work. 2) Construction / repair of weather sheet on the Terrace or in the basement. 3) Replacement / repair of open ground area tiles/paver blocks 4) Fixing of tiles on staircase. 5) Major repair of cooling tower/ Water treatment plant/firefighting system. These are not capitalized in the books of accounts. Can XYZ claim ITC on it? In my view since it is not capitalized in the books, ITC should be available. Your guidance please.
Frah Saeed Answered question September 18, 2020
We concur with your view ITC should be admissible as the amounts are not been capitalized.
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Frah Saeed Answered question September 18, 2020