Itc on cement
This query is : Resolved
20 June 2018
CAN I AVAIL ITC OF CEMENT AND SARIA AND OTHER RAW MATERIAL PURCHSE BILL, THAT I PURCHASE FOR WORK CONTRACT OF BUILD AN IMMOVABLE STRUCTER LIKE BRIDGE , BUILDING
????????
????????
20 June 2018
No ., purely related to mgf, plant machinery we can avail., and building and all cannot take provide
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NITIN SAKPAL
(Expert)
20 June 2018
No ITC is available for goods/services for construction of an immovable property on his own account. Even if such goods/services are used in the course or furtherance of business, ITC will not be available.
But this rule does not apply to plant or machinery. ITC is available on inputs used to manufacture plant and machinery for own use.
Example-
XYZ Industries constructs an office building for its headquarters. ITC will not be available.
XYZ Industries also constructs a blast furnace to manufacture steel. ITC is available since it is a plant.
But this rule does not apply to plant or machinery. ITC is available on inputs used to manufacture plant and machinery for own use.
Example-
XYZ Industries constructs an office building for its headquarters. ITC will not be available.
XYZ Industries also constructs a blast furnace to manufacture steel. ITC is available since it is a plant.
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20 June 2018
SIR
ASK ABOUT CONSTRUCTION OF IMMOVABLE STRUCTURE NOT FOR OWN USE
IT HAVE BUILD FOR OTHER THROUGH A CONTRACT
WHAT WILL BE IN THIS CASE
OF ITC ?
ASK ABOUT CONSTRUCTION OF IMMOVABLE STRUCTURE NOT FOR OWN USE
IT HAVE BUILD FOR OTHER THROUGH A CONTRACT
WHAT WILL BE IN THIS CASE
OF ITC ?
20 June 2018
@ Mr. JAGANATHAN R and NITIN SAKPAL.,
Why the ITC not available...?
Can You explain the view...!!!
Why the ITC not available...?
Can You explain the view...!!!
20 June 2018
read this article
https://cleartax.in/s/gst-cases-where-input-tax-credit-is-unavailable
Works contract
ITC shall not be available for any work contract services. ITC for the construction of an immovable property cannot be availed, except where the input service is used for further work contract services.
For example, XYZ Contractors are constructing an immovable property. They cannot claim any ITC on the works contract. However, XYZ hires ABC Contractors for a portion of the works contract. XYZ can claim ITC on the GST charged by ABC Contractors
https://cleartax.in/s/gst-cases-where-input-tax-credit-is-unavailable
Works contract
ITC shall not be available for any work contract services. ITC for the construction of an immovable property cannot be availed, except where the input service is used for further work contract services.
For example, XYZ Contractors are constructing an immovable property. They cannot claim any ITC on the works contract. However, XYZ hires ABC Contractors for a portion of the works contract. XYZ can claim ITC on the GST charged by ABC Contractors
Vishakha Kejriwal.
(Expert)
21 June 2018
If you are a contractor supplying works contract services then ITC of cement and other building materials is available as per Section 16 read with Section 17 of the CGST Act.
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