Hy all
We are making shed in our factory at 1st floor and we purchase some material for it.
my question is this, can we get input on raw material?
Menu
ITC on shed fabrication
Replies (5)
If you hired a contractor, one can claim ITC.
https://cleartax.in/s/gst-cases-where-input-tax-credit-is-unavailable
Further, itc can be claimed on raw materials if you meet this criteria
https://irisgst.com/all-about-input-tax-credit-itc-how-to-claim-input-tax-credit/
In term of Section 17(5) if it is capitalised to building account then ITC is not available , but if book under revenue expenditure then ITC is available.
We just expand our area of factory from ground floor to first floor, definitely it will help us to increase our revenue ..
can we assume it revenue expenditure and claim ITC ??
can we assume it revenue expenditure and claim ITC ??
That is capital expenditure because you will be capitalising it into PPE. One can’t do things out of AS.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
