Sir, I have a hardware and doors shop and I am starting a factory for which I have bought material to build a factory like I have bought construction material. Can I claim ITC for it?
can I claim itc of expenditures
GST ITC can not claim for construction, reconstruction, renovation, addition of immovable property even when such goods or services or both are used in the course or furtherance of business. However GST is cost of Factory.
ITC of GST paid on goods and services used for construction of immovable property (factory in your case) is blocked under section 17(5) of the CGST Act.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
