ITC on construction
can we claim ITC on construction materials? This building will used for rental in future.
Replies (6)
yes you can CLAIM... since it is furtherance of business
CGST act 17 (5) Input Credit not available:
c] works contract services when supplied for construction of an immovable property [other than plant and machinery] except where it is an input service for further supply of works contract service;
[d] goods or services or both received by a taxable person for construction of an immovable property [other than plant or machinery] on his own account including when such goods or services or both are used in the course or furtherance of business
c] works contract services when supplied for construction of an immovable property [other than plant and machinery] except where it is an input service for further supply of works contract service;
[d] goods or services or both received by a taxable person for construction of an immovable property [other than plant or machinery] on his own account including when such goods or services or both are used in the course or furtherance of business
what is your nature of business, if u doing construction business then u can take ITC
We are constructing our company's own building. and it will be given in rent..
Not available
Blocked credit. No ITC eligibility.
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