Can a manufacturer take input tax credit of material like GC sheets, colour coated GP sheets, Angles, channels, pipes, paints etc. to be used in -
1. Repair of existing factory shed.
2. Construction of new factory shed.
If this is inadmissible, then does he need to first take the credit & then reverse in GSTR 3B?
Please guide.
Thanks in advance.
No. Its blocked credit.
You should capitallize GST along with the expenditure, and can claim depreciation.
No question of reversal of ITC afterwards.
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