Sir, we are a civil contractor and mostly Construct an institutional building on contract basis with materials. What is the status of input tax credit for us.
Thanks
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ITC ON WORK CONTRACT
Replies (2)
refer section 17(5) , ITC on work contract for construction of immovable property other than plant and machinery will not be allowed... however it will be allowed if outward service is also a work contract service...
Thanks manas, but if I am the contractor my outward supply also should be treated as work contract
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