ITC in case of works contract
This query is : Open
25 December 2017
Good evening sir,
I am attending refresher course on gst, I want to ask a doubt which is as below:
1) When an organisation purchase chemicals and other epoxy material
2) use that material for epoxy flooring work which is covered under works contract
3) also selling material as it is
?? Whether that organisation eligible to claim ITC which is paid for chemicals and other epoxy material purchase?
Thank-you in advance
Waiting for reply
With Regards
Ankita jain
CA Final student
25 December 2017
The Taxpayer is dealing it as business then he will eligible for ITC...
Also the firm use it as self consumption then the ITC will be reversable...
Also the firm use it as self consumption then the ITC will be reversable...
25 December 2017
ok thank-you sir
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