ITC on factory shed
Parth Patel (C.A.) (75 Points)
04 May 2018Parth Patel (C.A.) (75 Points)
04 May 2018
Samir
(Accountant)
(116 Points)
Replied 04 May 2018
it will comes under fix asset i think
so what ever rules applies for fix asset same apply for it (concern with gst )
CA Shanky garg
(Practicing Chartered Accountant)
(217 Points)
Replied 04 May 2018
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.
Parth Patel
(C.A.)
(75 Points)
Replied 04 May 2018
CA SUDHINDRA D S
(Practising CA)
(761 Points)
Replied 04 May 2018
Ashok Verma
(4 Points)
Replied 30 October 2019
Chintanshah
(CA Practice )
(122 Points)
Replied 06 March 2020
ITC can not be available. Refer following case law
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 06 March 2020
ITC is not available on the expenditure incurred for the construction of factory shed.
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