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GST ITC on commercial rental income

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My mother has commercial property with rental income over 20 lakhs per annum, so she’s charging GST to her tenants and paying GST to the govt on a monthly basis.

Is she allowed to claim Input Tax Credit for the repairs & renovations done to the same building? What bills will or will not qualify for claiming input tax credit and the time frame to claim them? I have enquired few experts, but still not able to receive a concrete answer over this. Kindly clarify.

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Any immovable property let out for business or commercial purposes are subject to GST at the rate of 18%. Thus, GST at the rate of 18% is applicable to the taxable value. Taxable Value is nothing but the amount of rent received from the commercial property owned by the individual.

If you still find trouble with taxation and accounting you can use software like QuickBooks. You can use QuickBooks Pro hosting for accounting and bookkeeping. To know more about QuickBooks hosting services visit Apps4rent. I hope this helps!

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