construction
Cma Mahesh Nakate (96 Points)
10 August 2017
my client is constructing a building so he can avail ITC on what he paid on it????
8 Replies
Shivam Chomal
(498 Points)
Replied 10 August 2017
if ypur clien is in the business of constrution then he can,otherwise not.
Cma Mahesh Nakate
(96 Points)
Replied 10 August 2017
bt contractors charge gst even complete construction of a building
Shivam Chomal
(498 Points)
Replied 10 August 2017
when you have given contract to a contractor to construct a building for you, obviously you will have to pay GST on it, but since this building is for your personal consumption and not for further supply, you cannot claim input tax credit on this.
Cma Mahesh Nakate
(96 Points)
Replied 10 August 2017
sir bt this building for business not for personal use
Shivam Chomal
(498 Points)
Replied 10 August 2017
Section 17(5)(c) of the CGST Act, specifies input tax credit will not be available in the following case:
(c) works contract services when supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service;
So, you will not be eligible to credit, if you are not indulged in supplying of similar kind of service furthur.
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