Input tax credit on gst paid for cement purchases
This query is : Resolved
09 November 2017
Can an owner claim GST tax paid on Cement and Iran purchased for construction of Business Shop as Input GST Tax? The building will show in business Balance sheet as Fixed Assets.
09 November 2017
No GST can be claimed as input on construction of shop building as it is specifically barred under CGST Act whether on own account and whether in the course of or in furtherance of business.
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09 November 2017
GST PAID ON SUCH ITEM SHOULD BE INCLUDED IN THE COST OF SHOP BUILDING AND DEPRECIATION CAN BE CLAIMED
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