If L&T RMC sells RMC to a Contractor, who is doing item-wise
billing (separate billing for RMC, bricks, labour, etc.) with his
customer, is the contractor eligible to claim input tax credit?
We were told this is possible, but have recently received inputs saying it is not possible.
We are looking at the following states - WB, Maharashtra, Rajasthan, AP, TN, Punjab, Goa
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L&T Readymix concrete (RMC) query
Replies (2)
ITC is available against Tax Invoice only. If the contractor is purchasing against Tax Invoice and having TIN Reginstration, is entitled to get ITC adjustment. It is immaterial whether the contractor is billing itemwise or using the said RMC in the contract which is taxable is TIN. If the contractor has only GRN Registration, he will not get the ITC.
I agree
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