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ITC on material ( sands bricks cement iron)

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6 Points Joined May 2022
We have a business of making sweets and we make a building for business purposes and we have purchased a material like as Sands bricks block cement etc. business use with GST invoice. E way bill also has been created by supplier. Can we claim ITC? If yes can it be claimed please explain it
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On 12 June 2022 at 10:38 Report
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Aspiring CA
133 Points Joined February 2021
No, construction of immovable property other than plant and machinery is under block credit. Credit only allowed to person engaged in construction business.
Cannot claim ITC
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On 12 June 2022 at 11:08
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M Com FCS LLB M-AIMA
14046 Points Joined June 2009

ITC on construction cannot be claimed unless it is for plant and machinery or is not capitalized i.e. added to the cost of the asset, you can claim depreciation only.

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On 13 June 2022 at 15:34
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582 Points Joined June 2018
No...ITC on building material not allowed unless you are a building contractor...
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On 13 June 2022 at 22:08

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