WebNov 21, 2024 · GST/HST New Housing Rebate. If you purchased a newly built home to use as your primary residence, you can claim a rebate for goods and services tax/harmonized sales tax paid on the purchase. To qualify, the home must be worth less than $450,000, and you must own the land or have at least a 20-year lease with an option to buy. WebBuilding repair work: We can avail the ITC on building repair and Maintenance, but ITC will not be available to the extent of capitalization. It clear implies that if we are not capitalizing, we can claim the ITC on building repair and Maintenance. For example, ABC Ltd paid GST on building materials, such as cement, marble, paint and other ...
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WebJun 14, 2024 · Background. Under GST law, input tax credit can be availed by the registered person on the inward supplies of goods/services used/intend to be used in course of business of making taxable supplies/zero-rated supplies. ITC is eligible except on the specified list of blocked credit set out in section 17 (5). WebCommon expenses you can't claim. Expenses that can't be claimed could include: advertising (for instance, of a company's product) audit fees. bad debts. company establishment and other fees incurred under the companies code in relation to the administration of the company. costs incurred in preparing taxation returns. impactless printing definition
Expenditure you can
WebWhat you can claim GST on includes: Certain initial expenses including architect and engineering fees, excavation expenses relating to the foundation, along with the costs of building permits. Expenses relating to important structural features such as lift wells. WebNov 1, 2024 · Whether ITC available of GST paid on repair & maintenance of office building & whether ITC available of GST paid on Painting works. You can avail the credit. 01 November 2024 Yes you can avail as same is for furtherance of business.. If such work is of capital nature & you claim depreciation on it then no ITC available to you. WebApr 10, 2024 · Step 3: You will be on the ‘File Returns’ page. Select the ‘Financial Year’ and the ‘Return Filing Period’ from the drop-down list. To go on, click on ‘SEARCH.’. Step 4: Locate the tile titled ‘Monthly Return GSTR-3B’ and click ‘PREPARE ONLINE.’. Step 5: Enter the values for each section. list spn for an account