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ITC on Electricals Goods

ITC / Input 3136 views 9 replies
Can i take ITC on electrical goods like wire, switches, MCB etc
Replies (9)
Yes itc can be claimed if used for furtherance of business.
Wire, switches, MCB etc. expenses booked as capital expenditure (new office interiors expenses)
Dear Jatin.,

The above said new office is Your own building (Capital asset / Immovable property) or Rented premises...?
Rented premises
yes agreed with Raja sir views.
If rented premises then YOU CANNNNNNNN

Inward supply of works contract services in relation to immovable property (except P&M) is not eligible for input tax credit, unless you are engaged in providing works contract services.

Works contract referred here includes renovation, additions or alternations, to the extent of capitalisation, to the said immovable propery. In case the same is not capitalised in the books of accounts, then there is no restriction in taking ITC. 

Your case you said that you have capitalised. Hence, no ITC.

 

No more restriction for repairs and maintenance of rented premises...
Also can be book the above said electrical goods like wire, switches, Mcb and others in Fixed Assets and ITC will be allowed...


*** In case it's own property then only we will going to consider the above said rules...
yes you are right Raja sir


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