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ITC on factory building
Can we claim ITC on construction materials used in the building of factory ?
Replies (5)
no we can't claim unless the factory building was mainly constrcted for erection of plant and machinery.As per GST provisions ,input can be claimed only with respect to materials used in works contract resulting in plant and machinery and the plant and machinery is used for producing taxable supply.so here if you use any materials for constructing a factory building it is ineligible.
No you cannot take ITC its block u/s 17(5)
No, you can't claim ITC.
@ Manoj K K.,
As per Your query is it's new Construction then You can't claim ITC and it's booked under Fixed Asset. So, ITC not available.
In case it's not constructed and it's "Repairs and Maintenance" work then You can claim ITC and values in PandL account...
As per Your query is it's new Construction then You can't claim ITC and it's booked under Fixed Asset. So, ITC not available.
In case it's not constructed and it's "Repairs and Maintenance" work then You can claim ITC and values in PandL account...
Yes Mr. Raja Ji is correct if its capitalised to Building Account you cannot claim ITC
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