Can we take ITC

This query is : Resolved

Dharmender Rangapur (Querist)
Follow

07 August 2020 A X company's nature of business is purchasing
1. land and giving for development the same and in future gives for rent.
2. and Sale of land.

My Question is can company can take ITC on bill given by developer and if any material purchased for construction of land.
Please give clarification for the same which ITC can we take and which are not.

Lekhraj sood

Lekhraj sood (Expert)
Follow

07 August 2020 No,ITC can not be availed for the gst paid on land development charges as relating to immovable property.

Dharmender Rangapur

Dharmender Rangapur (Querist)
Follow

07 August 2020 which ITC can be availed by the company . I mean to say that on which the company can take ITC.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

09 August 2020 https://cleartax.in/s/gst-cases-where-input-tax-credit-is-unavailable
https://taxguru.in/goods-and-service-tax/itc-eligibility-works-contract-construction-activities.html
https://taxguru.in/goods-and-service-tax/availability-itc-goods-services-construction-immovable-property.html
https://www.cbic.gov.in/resources//htdocs-cbec/gst/Work%20Contracts%20in%20GST.pdf

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jayesh Pipalwa

George Innocent

Mukund Thakur

arya yashu

Rajat Khandelwal

Subscribe Now

Can we take ITC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Manager- Finance and Compliance

GST CONSULTANT

Accountant

CA Final

Article Assistant