ITC on Tin Shade
This query is : Resolved
17 October 2024
In a Newly incorporated Recycling Scrap Plant, Tin shade constructed for several Plant & Machineries, so, it will be categorized as P&M and ITC will be available on the material purchased for such construction or it will be categorized under Building and ITC will not be available ?
18 October 2024
It has to be capitalized.
19 October 2024
My question was that, as Tin shade was constructed as per pollution Control compliances and chimneys are also there. So, it will be treated as Plant & Machinery or Building ? If, we consider it as P&M, ITC will be available on it otherwise not and it will be capitalized.
19 October 2024
ITC cannot be availed on shed even if you may call it P&M.
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