Itc on works contract
This query is : Resolved
ANIMESH PANDEY
(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
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
Udaya Chandran
(Expert)
19 March 2018
If it is a revenue expenditure, you take ITC. If you capitalise the expenses, ITC is not available.
ANIMESH PANDEY
(Querist)
19 March 2018
It is not a revenue exp . It is actually a plant building development
Udaya Chandran
(Expert)
19 March 2018
In that case, you can't take ITC.
ANIMESH PANDEY
(Querist)
21 March 2018
Can i get ITC of GST on loan processing fee
Udaya Chandran
(Expert)
21 March 2018
Yes, you can take ITC.
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