Availing ITC on constuction materials
This query is : Resolved
Quick Summary
Gopalakrishnan. S
(Querist)
18 July 2024
Sir,
Can a Proprietor, who is constructing a commercial building on his own land claim ITC on the purchase of construction materials like steel, electrical goods etc through his proprietary business by giving his GST No. for those purchases ?
Pls. advice.
Can a Proprietor, who is constructing a commercial building on his own land claim ITC on the purchase of construction materials like steel, electrical goods etc through his proprietary business by giving his GST No. for those purchases ?
Pls. advice.
Dhirajlal Rambhia
(Expert)
18 July 2024
No, it cannot be claimed over building, if used for self.
Gopalakrishnan. S
(Querist)
18 July 2024
Thanks Sir.
If the said building is used to house his own business, then can he claim ?
If the said building is used to house his own business, then can he claim ?
Dhirajlal Rambhia
(Expert)
18 July 2024
No, its blocked under act.
Gopalakrishnan. S
(Querist)
18 July 2024
Ok Sir. Thank you so much.
Dhirajlal Rambhia
(Expert)
18 July 2024
You are welcome.
Gokul Sharma
(Expert)
18 July 2024
NOT ALLOWED TO TAKE ITC OF SHED BUILDING MATERIALS
22 July 2024
ITC on construction material is blocked under section 17(5)(c) and (d) to the extent of capitalization.
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