Profession fees ITC

Profession fees capitalised in construction account then claim ITC
Replies (2)
Quick Summary
This discussion clarifies the rules around claiming Input Tax Credit (ITC) on profession fees within the construction sector. Generally, profession fees cannot be capitalised for ITC purposes unless they are exclusively used in the creation of a specific asset. This distinction is crucial for accurate tax claims.

No, Don't claim.
Profession fees cannot be capitalized unless utilized solely for the purpose of creating the asset.

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