Input tax credit of gst charged on works contract
This query is : Resolved
08 July 2017
Whether ITC is available in respect of GST charged on Works Contract relating to Construction Work.
08 July 2017
ITC is available in respect of GST charged on Works Contract relating to Construction Work to builders selling the property under construction.
ITC Not available for users of the property.
ITC Not available for users of the property.
08 July 2017
But as per clause (c) of sub section 5 of section 17 of the CGST Act, it is allowable only when it is an input service for further supply of works contract service. No where it is mentioned that it is allowable to builders selling the property under construction. Can you please clarify the same ?
08 July 2017
See the GST tariff schedule for services ITC claim is allowed for them.
19.Construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly.
[The value of land is included in the amount charged from the service recipient]
12% With Full ITC but no refund of overflow of ITC
19.Construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly.
[The value of land is included in the amount charged from the service recipient]
12% With Full ITC but no refund of overflow of ITC
08 July 2017
As per tariff schedule for service, ITC is allowed to such builders but for what types of services ? Whether related to all types of input services or of works contracts services ?
Message likes :
1 times
08 July 2017
ITC allowed on all types of input services of works contracts services and materials used.
No restriction.
No restriction.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
