sir
we are tmt bar manufacturing unit, we used our own tmt bars for construction of building.
my doubt is, we want to reverse the ITC under RCM.
pls clarify.
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Captive consumption of Tmt bars
Replies (9)
Input tax credit not available for material used for construction of factory building for his own account , It's block credit under section 17 (5) of the CGST act 2017 .if you have taken then you have to reverse it with interest .
ITC is not applicable
If it taken by u from old stock,Itc b reversed with interest.
ITC to be reversed
Sir, I didn't take ITC, I am asking if we used own tmt bars for construction purpose of own building, what would be GST on used tmt bars
GST rate same as applicable for normal supplies
No..... there is no RCM .
If the unit are in same state , the said Raw material can be transferred under delivery challan (it's part of process of manufacturing). , But if the units are in 2 different state then raw material need to transfer only by issuing Tax Invoice & is taxable.
If the unit are in same state , the said Raw material can be transferred under delivery challan (it's part of process of manufacturing). , But if the units are in 2 different state then raw material need to transfer only by issuing Tax Invoice & is taxable.
Sir,
It's a movable property - You can claim input - Even if for building construction.
It's a movable property - You can claim input - Even if for building construction.
This building not related with manufacturing unit.
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