Dear Expert,
Can you please help us on the below query
We are doing multiple business like Electrical services and material sales and plumbing service and material sales... while claiming ITC how do we claim.. can we adjust the plumbing ITC against electrical sales or service.
Thanks in advance
Thank you
Vijith T K
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GST ITC multiple service and material sale
Replies (3)
Quick Summary
Can we adjust the plumbing ITC against electrical sales or service...???
Yes, Why not....???
(Is there You found any difficulties...??!)
Yes, Why not....???
(Is there You found any difficulties...??!)
Yes you can claim provided you hv such capabilities.
Multiple businesses with mixed supplies:
• If you make both taxable supplies (electrical services, material supply at 18%) and exempt supplies, ITC on common inputs is apportioned under Rule 42 (inputs and services) and Rule 43 (capital goods).
• ITC used exclusively for taxable supplies: fully available. Exclusively for exempt: not available.
• If all supplies are taxable (e.g. electrical works contracts, material supply), full ITC, subject to 17(5) blocks (e.g. construction of your own immovable property).
• Works contracts for immovable property (as a contractor): ITC is available to you (17(5)(c) exception).
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