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.
Message likes :
1 times
18 November 2017
You can't utilize such credit to pay GST on renting service. Refer ITC rules.
Message likes :
1 times
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- SGST balance is there in credit ledger how to adjust for cgst
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
