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Itc on works contract

This query is : Resolved 
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(Querist)
19 March 2018 Dear Sir,

We are a private ltd company . We have expanded our facility . for which we hired a contractor . Who have supplied material(Sand, Cement etc) plus labour for construciton of our building .

Pls guide would we get ITC on his bill
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Udaya Chandran

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Udaya Chandran (Expert)
19 March 2018 If it is a revenue expenditure, you take ITC. If you capitalise the expenses, ITC is not available.
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ANIMESH PANDEY

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ANIMESH PANDEY (Querist)
19 March 2018 It is not a revenue exp . It is actually a plant building development
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Udaya Chandran

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Udaya Chandran (Expert)
19 March 2018 In that case, you can't take ITC.
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ANIMESH PANDEY

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ANIMESH PANDEY (Querist)
21 March 2018 Can i get ITC of GST on loan processing fee
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Udaya Chandran

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Udaya Chandran (Expert)
21 March 2018 Yes, you can take ITC.
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