Input tax credit

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2017 HI
Please let me know whether a builder/developer would be eligible to take credit of tax suffered by him on supply of works contract service by the contractor who has constructed building/immovable property for the builder. Section 17(5)(c) of CGST Act, specifically excludes admissibility of ITC when there is supply of works contract service for construction of immovable property unless it is input service for supply of another works contract service.

Guest

Guest (Expert)

16 September 2017 Yes builder can avail credit