Itc on paint
This query is : Resolved
12 March 2018
DEAR ALL
We have purchased paints and putty used in factory building.
Is ITC allowed on paints and putty used in factory building on own account
As per my vies,if it is capitalised ,then ITC not allowed ,,am i right???
We have purchased paints and putty used in factory building.
Is ITC allowed on paints and putty used in factory building on own account
As per my vies,if it is capitalised ,then ITC not allowed ,,am i right???
12 March 2018
No ITC Not available on above Painting chgs
13 March 2018
Yes...
You are exactly correct...
The Factory Building is Your Company's own Asset???
13 March 2018
but what about "to the extent of capitalisation" as per section 17(5)???
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