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.
Message likes :
1 times
09 November 2017
GST PAID ON SUCH ITEM SHOULD BE INCLUDED IN THE COST OF SHOP BUILDING AND DEPRECIATION CAN BE CLAIMED
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- 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
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
