ITC claim and criteria

Dear all,
i running a coaching centre with my friend. recently we decided to make changes in interior structure. For that we contracted and finalised the work.
contact based work(labour cum material, amount has to be mentioned seperately in bil)

know i have to know can gst paid on this contract work as ITC ?.
thanking you
Replies (3)

Dear Vinayak,

In terms of section 17(5)(C) of CGST Act, if the works contract services received for construction of an immovable
property capitalized in the books, then ITC would be restricted.

If works contract services are accounted as expenses and transferred to P&L account, ITC would be eligible.

ok thank you
good clarification and information

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