Dear Experts,
Can I take ITC against building materials on behalf of Manufacturing plant?
The plant will be produced only taxable supply..
3 Replies
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 22 February 2019
No.... if its capitalised to Building A/c cannot claim ITC (s. 17(5))
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 22 February 2019
Plant and machinery ITC is allowed, charge depreciation @ 15% in IT also
only as per section 17(5) Works contract (Building construction) ITC is not allowed, if not use for furtherance of business
Anshuman Basu
(account -GST)
(1556 Points)
Replied 22 February 2019
u get ITC. subject to not capatalize the expenses.
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