Mr. Ram hires a works contractor for repairing his factory building on a lumpsum payment of Rs. 11,80,000/- ( GST Rate 18%)
He debit half of the expenditure in the profit & loss account and remaining half in the building account.
Mr. Ram can take input tax credit of
A) Rs.90,000/-
B) Rs. 1,06,2000/-
C) Rs. 212400/-
D) Rs. Nill
GIVE YOUR ANSWER WITH REASONS
Thanks & Regards
Ravi SADhiyan
as per sec 17(5)(c) of CGST Act , 2017 concerned ram is ineligible to take itc on works contract unless he involves in same outward supply
Shyam S Gupta and Company
New Delhi
CA Inter
View Details
N N V Satish & Co.,
Hyderabad
CA Inter
View Details
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
View Details
CCI
Pro
CAclubindia
