Sir my business is renting immovable property and i have already register in GST act now i want to construction new property for Renting so Can i take input Credit on this New Construction
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Input on gst
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No you cannot...
ITC on Works Contract is BLOCKED u/s 17(5) of the CGST Act 2017.
ITC on Works Contract is BLOCKED u/s 17(5) of the CGST Act 2017.
you cannot claim ITC on expenses capitalised to Building account, but the expense of Revenue Nature which is not capitalised to building the ITC can be claimed.
(as per explanation under section 17(5))
(as per explanation under section 17(5))
A straight answer to the question would be 'No'. However there is a double taxation involved in this taxation. Assessee is not allowed to take ITC and liable to Pay GST on output supply.
A similar case was taken up by Orissa High court. You can rely on the same and litigate your stand point as you are suffering double taxation.
Pls refer Safari Retreats Private Limited Vs Chief Commissioner of Central Goods & Service tax (Orissa High Court)
A similar case was taken up by Orissa High court. You can rely on the same and litigate your stand point as you are suffering double taxation.
Pls refer Safari Retreats Private Limited Vs Chief Commissioner of Central Goods & Service tax (Orissa High Court)
You are not eligible for ITC
On furniture ,AC etc which is not capitalised to building account .the ITC can be claim
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