mere client ka Laudry ka business hai us ko Dryer machine install karne ke liye aluminium ka stand + foundation banana hai.. can he claim ITC on aluminium sheet purchase bill as these are utilise in plant and machinery???
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Quick Summary
This discussion clarifies whether ITC (Input Tax Credit) can be claimed on aluminium sheets purchased for constructing a stand and foundation for a dryer machine in a laundry business. The consensus is that if the aluminium is used for plant and machinery, and capitalised in the books of account, then ITC and depreciation are claimable. This is distinct from immovable assets where ITC is generally not allowed.