input credit in works contract
This query is : Open
18 November 2017
I M a trust which provides renting service of a hospital now we create a contract between hospital & trust to develop a land for cycle stand(trust is land owner) now that is new service by us to hospital i.e
work's contract now different input credit we are book on cement,steel & misc for works contract now can I utilise that credit to pay Gst on renting service,till date we are not issue works contract bill.
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CA R SEETHARAMAN
(Expert)
18 November 2017
You can't utilize such credit to pay GST on renting service. Refer ITC rules.
Message likes :
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CA R SEETHARAMAN
(Expert)
18 November 2017
If you raise a bill on works contract to hospital with 18% GST then you can avail ITC on cement, steel and misc.
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