Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Easy Office

LCI Learning

ITC on work contract.

Joshua Dsouza (152 Points)

17 September 2018

My dad is building contractor. Can he avail ITC on purchase of materials like cement, steel etc?

Reply
Follow
Share

9 Replies

Vinod Babu (24191 Points)
Replied 17 September 2018

Yes , ITC available ,
only when his services in case of immovable property if his input services is for further supply of services.
In case of plant & machinery no need of further supply .
ref. sec 17(5)

ITC for works contract can be availed only by one who is in the same line of business and is using such services received for further supply of works contract service.

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Joshua Dsouza (152 Points)
Replied 17 September 2018

So my dad's business is a further supply of services right?

Vinod Babu (24191 Points)
Replied 17 September 2018

Yes... ....

1 Like

Joshua Dsouza (152 Points)
Replied 17 September 2018

Thank you very much sir. I was very confused about it. Dad had claimed ITC from March. I was worried whether it would be reversed

Vinod Babu (24191 Points)
Replied 17 September 2018

ITC can be claimed only which is reflected in Gstr2A.

Upgrade to CAclubindia Pro. Subscribe Now!

Joshua Dsouza (152 Points)
Replied 17 September 2018

Yes sir!!! Thank you 🙌

1 Like

Vinod Babu (24191 Points)
Replied 17 September 2018

Ok. You are most welcome to CCI.

1 Like

(Guest)

Agreed with Shri Vinod Babu...

1 Like

rakesh (student) (457 Points)
Replied 22 October 2021

So input tax credit can be allowed on purchase of goods to be consumed in works contract service of immovable property

Join CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Trending Online Classes

3 Days Certification Course on Tax Audit Under Income Tax Act 1961

CA Pratibha Goyal

Enroll Now

05 August 2024
Live class on PF & ESI Enrollment & Returns Filing(with recording)

Mr.Balamurugan Ranganathan

Enroll Now

26 July 2024
Live Course on Practical GST Filing with Expert Legal Insights

Sachin Jain

Enroll Now

26 July 2023

view all classess

Let's Talk Money: You've Worked Hard for It, Now Make It Work for You

Click here for more bestsellers

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings