I have a constructions firm, I have started my business. so there was no output, may be in future. May I take input from right now?
Menu
Input credit should be taken or not
Replies (5)
Quick Summary
Yes, you may avail ITC (unless ineligible) and utilize the same as and when you have output liability.
But if I goes 5% gst rate in construction area where input are not eligible, what to do then?
If you are constructing residential apartments then no ITC available.
For detailed query you can mail me.
For detailed query you can mail me.
If you are builder or promotor then ITC is not available to you .
For Doing -Construction as a business -ITC Available.
For movable & immovable properties.
For taking credit, 1st you obtain registration.
Exception for the same means not treated as supply.
1 . Labour Contract Only -Residential Buildings, Not Flats or Commercial Buildings.
2.Prime Ministers Avas Yojana -All Works.
3.Electricity Board -Works to Agriculturust.
For movable & immovable properties.
For taking credit, 1st you obtain registration.
Exception for the same means not treated as supply.
1 . Labour Contract Only -Residential Buildings, Not Flats or Commercial Buildings.
2.Prime Ministers Avas Yojana -All Works.
3.Electricity Board -Works to Agriculturust.
Recent Topics :
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
Related Topics :
CAclubindia
