Can we take ITC
This query is : Resolved
07 August 2020
A X company's nature of business is purchasing
1. land and giving for development the same and in future gives for rent.
2. and Sale of land.
My Question is can company can take ITC on bill given by developer and if any material purchased for construction of land.
Please give clarification for the same which ITC can we take and which are not.
1. land and giving for development the same and in future gives for rent.
2. and Sale of land.
My Question is can company can take ITC on bill given by developer and if any material purchased for construction of land.
Please give clarification for the same which ITC can we take and which are not.
07 August 2020
No,ITC can not be availed for the gst paid on land development charges as relating to immovable property.
07 August 2020
which ITC can be availed by the company . I mean to say that on which the company can take ITC.
09 August 2020
https://cleartax.in/s/gst-cases-where-input-tax-credit-is-unavailable
https://taxguru.in/goods-and-service-tax/itc-eligibility-works-contract-construction-activities.html
https://taxguru.in/goods-and-service-tax/availability-itc-goods-services-construction-immovable-property.html
https://www.cbic.gov.in/resources//htdocs-cbec/gst/Work%20Contracts%20in%20GST.pdf
https://taxguru.in/goods-and-service-tax/itc-eligibility-works-contract-construction-activities.html
https://taxguru.in/goods-and-service-tax/availability-itc-goods-services-construction-immovable-property.html
https://www.cbic.gov.in/resources//htdocs-cbec/gst/Work%20Contracts%20in%20GST.pdf
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