Is input tax credit under works contract service
rakesh (student) (467 Points)
22 October 2021
is input tax credit can be availed for purchase of goods under works contract service
4 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 22 October 2021
If work are conducted by contractor then ITC can be claimed
Rajendra Prasad
(Employee Private)
(1913 Points)
Replied 22 October 2021
If works contract services provided on account of Furtherance of Business ITC is available on inward supply of goods or services or both else ITC not available.
rakesh
(student)
(467 Points)
Replied 23 October 2021
Ok, so input credit on purchase of goods and services can be availed by provider of works contract service for immovable property
Rajendra Prasad
(Employee Private)
(1913 Points)
Replied 23 October 2021
Yes. If immovable property other than plant and machinery is own then not available.
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