sir
in manufacturing unit we construct a shed of tin and steels
we purchase a metal from party
can we take a input on this material
yes u can . . .
6 Replies
DANISH
(ACCOUNTANT)
(155 Points)
Replied 14 May 2018
it is the construction of an immovable property
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 14 May 2018
u are constructing the shed so u can take input tax credit
but
if a customer purchased the same so he cant take itc as immovable property for the same persn
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 14 May 2018
No , Input tax credit not avaiable as per section 17 sub section 5(d) of the CGST act 2017 goods received by taxable person for construction of an immovable property used in the course of furhterance of Busniess .
Fruther it is mentioned in the explanation - for the clause (d) the expression contruction includes Re- contrucation , renovation , additions or alterations or repairs to the said immvoable property .
please confirm with others also .
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 14 May 2018
No ITC is available for goods/services for construction of an immovable property on his own account. Even if such goods/services are used in the course or furtherance of business, ITC will not be available.
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 14 May 2018
No ITC is available, since goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of business.
Thus no ITC on goods can be taken.
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