Respected members
I have purchase shop and 75000 gst on this shop can I claim this Itc or not ?
thank u advance
Yes, you can claim
3 Replies
Chhatra Singh Dugar
(1464 Points)
Replied 26 November 2020
ITC will be available to you provided you have shown shop as Capital Asset and availed depreciation on it.
Shivam RC
(Student)
(23683 Points)
Replied 26 November 2020
No you cannot claim Input Tax Credit ( ITC ) on Shop booked at the under construction stage as the services of Works Contract is specifically BLOCKED under Section 17 sub section (5) clause (c) of the CGST Act 2017.
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