Itc on works contract
This query is : Resolved
02 November 2018
What is the impact of ITC on Works Contract at Present.I heard that previously No ITC was availible for procuring material for construction. Have any change made in this matter from October 2018
02 November 2018
ITC is available on works contract for materials procured for construction by contractor at any time.
03 November 2018
In addition to the above, ITC is also available on works contract i.e. "goods or services or both received by a taxable person for construction of an immovable property (other than plant and machinery) on his own account, including when such goods or services or both are used in the course or furtherance of business" to the extent not capitalised.
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