we are doing construction work under works contact, whether transfer of property goods are only eligible to take input credit , or consumables also.
6 Replies
SAURABH ZAWAR
(269 Points)
Replied 19 April 2017
Gst will be applicable to works contract and It will be Considered as supply of services
Tanvir
(Asst. Manager)
(24 Points)
Replied 19 April 2017
No restrictions on Input Tax Credit for Consumables purchases has been outlined in model GST Law. Hence it is available as of now.
Tanvir
(Asst. Manager)
(24 Points)
Replied 19 April 2017
Please refer to sec. 16 of MGL. As prescribed in this sec., ITC is available on all purchase which are intended to be used in furtherance of business.
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