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ITC ON CONSTRUCTION SERVICES

nitinjain (accountant) (390 Points)

20 January 2018

we have aggrement with a hospital to provide a building on rent.
Now we are constructing a building for renting purpose .
so weather we are eligible for input credit of construction services?
because we will issue rent bill in future.

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 20 January 2018

NO ITC.........You can capitallize it.

nitinjain (accountant) (390 Points)
Replied 20 January 2018

If we give contract to contractor & he issue Gst bill to us

nitinjain (accountant) (390 Points)
Replied 20 January 2018

then such Gst will available

CA Chandra Prakash (9873059766 Increasing knowledge through sharing) (296 Points)
Replied 20 January 2018

Not available,

Specifically mentioned under section 17(5) of CGST Act, 2017

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;