Can builder take itc of cement

ITC / Input 1570 views 7 replies
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ca
47 Points Joined November 2015
  • dealer is registered as service provider who was getting half building made by contractor whose itc builder /dealer was taking till now.
  • now, contractor is gone and builder started taking cement/tiles etc. bills in his own name.
  • can builder take this itc ?
  • (cc is not yet received).
  • my view--> yes, builder/dealer can take provided he gets his rc amended to include works contractor
  • please guide me,

regards, ca kunjan, 9222 9222 92, mumbai

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On 23 March 2022 at 13:50 Report
Replies (7)
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CFO- at NHTF
58280 Points Joined August 2012
Yes ..Builder can avail ITC
1 Reply
On 23 March 2022 at 14:48
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81 Points Joined February 2021
Further supply goods are services even then ITC availed on construction services in further supply
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On 23 March 2022 at 15:45
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28026 Points Joined May 2017
Builder can take input tax credit of cement provided used for furtherance of business.
If the builder uses that cement in construction of own house used for residential purpose then there is no problem.
1 Reply
On 23 March 2022 at 16:14
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GST Consultant
15986 Points Joined March 2013

Whether residential project or commercial and when did it commenced?

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On 23 March 2022 at 19:08
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81 Points Joined February 2021
Owner of property will not take itc there for not at all further supply that means ending stage recipient not take itc
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On 24 March 2022 at 11:20
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www.canaresh.com
394 Points Joined May 2007

further facts --> builder commenced work via contractor in 2010 today, building is 70% complete and now , since jan 2022, builder taking itc of cement etc. himself as contractor left. its a residential mumbai one building project to be sold to retail flat buyers and few shops for commercial sale.

so i am concluding no need to change rc as works contractor and continue taking itc of all itc, mainly cement, tiles, machines etc. right?

 

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On 24 March 2022 at 19:21
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GST Consultant
15986 Points Joined March 2013

Too many factors which can have a bearing whether ITC is available or not.

Send full query via mail and take professional opinion.

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On 24 March 2022 at 19:57


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