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availment of itc of immovable property
Can a sole proprietor avail itc of flat purchase by him?If answer is No,please explain why?
Replies (2)
works contract ITC not allowed under gst unless specifically the respective party is into the business of providing works contract.
As per section 16 ITC can be avail only when its in course of business or furtherance of business.
As per per section 17(2) , the itc has to be reverse on inward supplies for personal use.
Hence No ITC is available
As per per section 17(2) , the itc has to be reverse on inward supplies for personal use.
Hence No ITC is available
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