good morning sir,
actually I had purchased construction goods for to construct new shed to manufacturing taxable goods. now my query is whether am I eligible to take itc what I had purchase construction goods.
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Regarding INPIT
Replies (1)
ITC on goods or services or both received by a taxable person for construction of an immovable property(other than Plant and machinery) is not allowed to the extent capitalised. So, ITC is allowed on such goods or services or both received by a taxable person for construction of an immovable property the cost of which is charged to profit and loss account.
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