ITC on newly setup

Save Share

This query is : Open

Rakesh Sharma (Querist)
Follow

21 January 2021 Dear Experts, we are constructing a Plant & have purchased the below details ITEMS :-
1) We have purchased Cement, MS, SS etc. for the building. ITC available or not.
2) We have purchased Cement, MS etc. for the base for machinery. ITC available or not.
3) We have purchase DG Set along with cement, MS, PVC pipe to prepare the diesel tank. ITC available or not.
4) Sir, we have purchased Electricals fitting items for the building. ITC available or not.
5) We have purchased Electricals fitting items for Plant & Machinery. ITC available or not.
6) We have purchased Mobile Phone for communication with various Vendors. ITC available or not.

Kindly suggest.

Rakesh Sharma

Message likes : 1 times

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 January 2021 1 and 4 ITC not available.
2, 3, 5 and 6 ITC available.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

21 January 2021 1. No, blocked u/s 17(5). 2. No, same belongs to fixed immovable assets and blocked u/s 17(5). 3. Diesel Tank is also fixed in nature and cement used in purchasing it also blocked u/s 17(5) 4. Electrical fitting for the building is also improvement for building and same is also blocked u/s 17(5). 5. Allowed 6. Allowed

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!