Easy Office
Easy Office

Itc

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2017 IS REAL ESTATE COMPANY IS ELIGIBLE TO AVAIL ITC OF GST PAID TO CONTRACTORS AND SUB-CONTRACTORS OR THE SAME FALL WITHIN THE CATEGORY OF WORK CONTRACT?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 November 2017 Yes ITC can be claimed on works contract provided GST applicable on your out put service. ITC can be availed if you are a builder selling the building under construction.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2017 Sir but what about restrictions under section 17(5), which specifically excludes ITC of Work Contracts.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 November 2017 That is for owner of the building not for builders. For builders ITC is available.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2017 But sir .......is above matter specifically mentioned under act ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 November 2017 Yes specifically mentioned.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2017 Where sir.... Can you please guide me regarding same.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 November 2017 See GST rate schedule 12%/18% with ITC.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2017 Thanks a lot sir to clear my confusion.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 November 2017 You are welcome.........

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