Indian Construction Company 18 August 2017
We are Govt. Civil-Engg. Works Contractor, (this is the first time we enrolled ourselves with GST/VAT etc.. we were unregistered-before for past many years)
Our question is; can a works contractor claim input tax credit on Closing Stock as on 30june2017 via., TRANS-2 (purchased goods will be used in the execution of works contract) ?
We are asking this because, at some of the blogs/groups people say that; ITC shall not be available for any work contract services. ITC for the construction of an immovable property cannot be availed.