Itc

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2017 IS REAL ESTATE COMPANY IS ELIGIBLE TO AVAIL ITC OF GST PAID TO CONTRACTORS AND SUB-CONTRACTORS OR THE SAME FALL WITHIN THE CATEGORY OF WORK CONTRACT?

28 November 2017 Yes ITC can be claimed on works contract provided GST applicable on your out put service. ITC can be availed if you are a builder selling the building under construction.

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Querist : Anonymous

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28 November 2017 Sir but what about restrictions under section 17(5), which specifically excludes ITC of Work Contracts.

28 November 2017 That is for owner of the building not for builders. For builders ITC is available.

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Querist : Anonymous

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28 November 2017 But sir .......is above matter specifically mentioned under act ?

28 November 2017 Yes specifically mentioned.

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28 November 2017 Where sir.... Can you please guide me regarding same.

29 November 2017 See GST rate schedule 12%/18% with ITC.

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29 November 2017 Thanks a lot sir to clear my confusion.

29 November 2017 You are welcome.........


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