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Querist : Anonymous

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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

Querist : Anonymous

Querist : Anonymous (Querist)

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 November 2017 That is for owner of the building not for builders. For builders ITC is available.

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Querist : Anonymous

Querist : Anonymous (Querist)

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 November 2017 Yes specifically mentioned.

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Querist : Anonymous

Querist : Anonymous (Querist)

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 November 2017 See GST rate schedule 12%/18% with ITC.

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Querist : Anonymous

Querist : Anonymous (Querist)

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 November 2017 You are welcome.........

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