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ITC on LIFT

Goods and Services Tax - Started By: - ROHIT GOEL - Dated:- 13-3-2018 Last Replied Date:- 1-8-2018 - Dear Team,There is a confusion and difference of opinion regarding allowability of ITC on purchase of lift... The usage of lift will be in factory only for movement of goods and not staff...Is there any difference in opinion if the use of lift is for staff members and not goods... - Reply By MUKUND THAKKAR - The Reply = if are you using the lift for staff members it is covered under the plant fac .....

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h is engaged in supply of taxable goods and services the gst paid on the lift is eligible for ITC. - Reply By Alkesh Jani - The Reply = Sir, In this regards, my view, lift can be considered as capital goods if in office premises and plant and machinery if used in factory, same shall be recorded in the books of Account. ITC can be availed as lift is not mentioned in Section 17(5) of the CGST Act,2017,but the provisions of Section 16(3) shall apply, so while taking the ITC of the lift the deprecia .....

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ible for lift. - Reply By SHOBHIT BANSAL - The Reply = Sir, I also agree with the opinion in regards to allowability of ITC on purchase of lift installed in business premises irrespective of the use for staff or goods. ITC allowable. I have another issue in regards to alowability of ITC where output service is Renting of an Immovable property. Here the registered taxable person installed lift in building given on rent. There is a confusion in regards to ITC of LIFT when renting of immovable prop .....

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in view of usage and function it can be inferred that it is an absolutely must for providing Renting of Immovable Property Services. I think it conforms to the condition of in business or furtherance of business It does not fall under any exclusion clause. So in my view, ITC is allowed. Other experts may intervene pl. - Reply By SHOBHIT BANSAL - The Reply = Thanks Sir for your valuable suggestions. - Reply By SELVAKUMAR MUTHURAJ - The Reply = Lift forms integral part of building or any other ci .....

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