GST on inputs
This query is : Resolved
28 February 2023
We are a infrastructure company engaged in development of land.
We are providing basic facilities like Sewerage, Water Supply, Electricity, Roads.
For these facilities- we procure Bricks, Sand, Steel & Iron (TMT Bars), Paints etc after payment
of GST
Our Final Product is Land, which is exempted ie on sale of Land , no GST shall be levied.
Can we claim ITC in inputs used for making roads, Water Tank, Road.
Please suggest
We are providing basic facilities like Sewerage, Water Supply, Electricity, Roads.
For these facilities- we procure Bricks, Sand, Steel & Iron (TMT Bars), Paints etc after payment
of GST
Our Final Product is Land, which is exempted ie on sale of Land , no GST shall be levied.
Can we claim ITC in inputs used for making roads, Water Tank, Road.
Please suggest
28 February 2023
As land is exempt from GST ITC can't be claimed on such inputs.
28 February 2023
If you are charging separately for development and separately for land then possibility of claim of ITC may arise but since you are supplying developed plots as a whole it is outside the purview of GST and therefore ITC on your inputs will not be allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
