Sir
My Client is constructing factory building, the material used the construction like steel cement and other material are eligible for ITC ?
If it is eligible under under section or any circular
but as per my view u/s 17(5) ITC will not be availed
hence give me clarification on this
Thank You
5 Replies
Ranga raj
(still studying)
(122 Points)
Replied 27 January 2020
@ AMBER if your client is capitalising the expenses incurred in the construction, then he/she cannot claim ITC on such goods rather if they are showing those expenses in the p&l then they can claim ITC
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 28 January 2020
You yourself had mentioned the correct section , which states that ITC on same is block (If capitalised)
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 28 January 2020
@ Mr AMBER.,
The said section (17(5) of CGST Act) blocked the ITC. Also You have the details correctly. No more clarification for the ITC will not be avail.
@ Mr Ranga Raj.,
New construction can't be book as RM into PandL...
The said section (17(5) of CGST Act) blocked the ITC. Also You have the details correctly. No more clarification for the ITC will not be avail.
@ Mr Ranga Raj.,
New construction can't be book as RM into PandL...
Ranga raj
(still studying)
(122 Points)
Replied 28 January 2020
Is it a new construction? if so Mr.Raja is correct
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