ITC on construction
Asif Rahaman (95 Points)
20 March 2019
can we claim ITC on construction materials? This building will used for rental in future.
6 Replies
pritesh
(CA Final student)
(7101 Points)
Replied 20 March 2019
yes you can CLAIM... since it is furtherance of business
Asif Rahaman
(95 Points)
Replied 20 March 2019
CGST act 17 (5) Input Credit not available:
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;
[d] 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
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;
[d] 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
Siva Raj
(358 Points)
Replied 21 March 2019
what is your nature of business, if u doing construction business then u can take ITC
Asif Rahaman
(95 Points)
Replied 21 March 2019
We are constructing our company's own building. and it will be given in rent..
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