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ITC on factory shed
Can one get GST credit on shed constructed at factory?
Replies (9)
it will comes under fix asset i think
so what ever rules applies for fix asset same apply for it (concern with gst )
In my opinion, ITC will not be available for factory Shed construction. You will Probably capitalise the shed cost in building head i.e. immovable property.
And, ITC is not available for goods received for construction of immovable property.
It will fall within immovable property , so credit be disallowed.
ITC is not available. for more clarification please read this article
https://www.caclubindia.com/articles/whether-input-tax-on-works-contract-is-blocked-credit-under-gst-33053.asp
https://www.caclubindia.com/articles/whether-input-tax-on-works-contract-is-blocked-credit-under-gst-33053.asp
ITC Not available
Refer Section 17 (5) (d)
Refer Section 17 (5) (d)
Thank you fellows for your all guidance
A shed consists of two parts. one, it provides structural support to the overhead cranes used for production purposes and for movement of raw materials and improved and finished goods, and second it provides a cover for the remaining plant and machinery. hence get credit should be allowed for the former of not for the later use, asper the rulebook.
ITC can not be available. Refer following case law
ITC is not available on the expenditure incurred for the construction of factory shed.
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