Sir
My Client is constructing factory building, the material used the construction like steel cement and other material are eligible for ITC ?
If it is eligible under under section or any circular
but as per my view u/s 17(5) ITC will not be availed
hence give me clarification on this
Thank You
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Eligible for ITC on factory Construction
Replies (5)
Quick Summary
@ AMBER if your client is capitalising the expenses incurred in the construction, then he/she cannot claim ITC on such goods rather if they are showing those expenses in the p&l then they can claim ITC
You yourself had mentioned the correct section , which states that ITC on same is block (If capitalised)
@ Mr AMBER.,
The said section (17(5) of CGST Act) blocked the ITC. Also You have the details correctly. No more clarification for the ITC will not be avail.
@ Mr Ranga Raj.,
New construction can't be book as RM into PandL...
The said section (17(5) of CGST Act) blocked the ITC. Also You have the details correctly. No more clarification for the ITC will not be avail.
@ Mr Ranga Raj.,
New construction can't be book as RM into PandL...
Thank you for your valuable clarification
Is it a new construction? if so Mr.Raja is correct
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