TMI BlogITC on purchase of lift for residential unit and can use and set off against renting of immovable property ?X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, Can we avail ITC on purchase of lift for residential unit and also can we utilise this ITC against rental of immovable property services ? - Reply By Rajagopalan Ranganathan - The Reply = Sir, As per Sl. No. 12 of Notification No. 12/2017- Central Tax (Rate) dated 26.6.2017 Services by way of renting of residential dwelling for use as residence is unconditionally charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able to 'nil' rate of GST. Hence you cannot avail credit of GST paid on lift installed in a residential unit. - Reply By KASTURI SETHI - The Reply = I support the views of Sh.Ranganathan Sir. When service is exempt from GST, no question of taking ITC. - Reply By RameshBabu Kari - The Reply = Dear Experts, Thanks for your valuable reply - Reply By vk agarwal - The Reply = In any cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e even if the residential unit was not exempted, credit of lift which is installed in a immoveable property would not have been allowed to be used even if the immoveable property is being used to provide a taxable service. For example credit of input and input services used to construct a mall is not allowed to be taken and used to pay tax on rental services - Reply By raveendra pallipamu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - The Reply = If the lift used in the business premises for customers then the gst on lift is avalable for gst input tax credit? - ITC on purchase of lift for residential unit and can use and set off against renting of immovable property ? - Query Started By: - RameshBabu Kari Dated:- 20-7-2017 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply pos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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