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Itc on work contract

Rajiv (Senior Accounts Officer)   (1545 Points)

21 December 2018  
Sir
We give a contract of aluminium partition in our office. Sir will we take itc on This work contract if we will not capitalize this ????

 5 Replies

Sarath Rajendran (Nil) (2791 Points)
Replied 21 December 2018

ITC on Construction work only allowed to building Constructor.

Owner of such property cann't take ITC on that property payment to the constructor.

Fenil Jalan (self) (279 Points)
Replied 21 December 2018

Yes, you can take ITC over the office furniture expenses.

1 Like

VIPIN GUPTA (PARTNER) (419 Points)
Replied 21 December 2018

As per sec 17 itc is not available on construction of immovable property. As your case it is not immovable property it is capital assets and itc will be available

ashish (M.Com) (238 Points)
Replied 29 December 2018

same confusion

 

ashish (M.Com) (238 Points)
Replied 29 December 2018

same confusion

 


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