17 January 2018
I am Govt. Contractor I do take contract of road, sanitation arrangement,school building,meeting hall etc from state govt. whether am i eligible to claim ITC on material purchased like coment,steel,etc.
people are are saying something no ITC on immovable property except plant and machinarry..... please tell me in simple language.... with example will be better. thank you
17 January 2018
You are eligible to claim ITC on material purchase like steel and cement etc. Only the owner of the building (Govt) can't claim ITC. Owner of plant and machinery can claim ITC. Contractor can claim ITC on material used.
CAclubindia
