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Regarding itc

ITC / Input 99 views 1 replies

ANMOL AGRAWAL

14 Points Joined September 2018

i have a proprietorship firm and i am making my new factory ...and i am purchasing pvc pipes and electrical work goods ...can i take the goods in the name of firm by mentioning gst no. and take itc of tax of the goods imposing on it

Replies (1)

CA Mayank A Jain

Chartered Accountant in Practice

1260 Points Joined June 2019

Section 17(5)(d) provides restriction for availing Itc where goods or services are used in construction of immovable property.
If these pipes and electrical work is used in construction of immovable property then you cannot take ITC