Goods and Services Tax – Started By: – Raghu K – Dated:- 27-4-2018 Last Replied Date:- 2-5-2018 – Dear Experts,Whether can we take ITC against Interior Work designing & Materials,Because, we shifted to our new office for our company. In which we incurred amount for Interior Consultancy, Materials, etc., & the same has been capitalized.Kindly Guide me. Thanking You,Raghu – Reply By Himansu Sekhar – The Reply = Please refer to id-113412 – Reply By Rajagopalan Ranganathan – The Reply = Sir, Section 17 (c) & (d) of CGST Act, 2017 stipulates that- (c) works contract services when supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contrac
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
construction related activities wherever capitalised is not eligible for credit. – Reply By Alkesh Jani – The Reply = , I request our experts to re-comment, after perusing the submission made under:- First let me reproduce the definition of work contract as given in Section 2 of CGST, Act, 2017 (119) works contract means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract From above it can be said that works contract is limited only to construction of civil
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
g amounts to eligible for ITC. Further, suppose Table, Chair, Computer etc. are used in the course of business or furtherance of business and as these are essential for staff to run the business and these are shown separately in the Balance sheet. So in GST ITC can be availed on such capital goods, subject to condition benefit of depreciation is not availed under Income Tax Act. Our expert may please correct me as this is for my knowledge purpose.Thanks – Reply By YAGAY AND SUN – The Reply = Can anybody imagine working without table chairs and interiors etc in a office. We endorse the very view of Mr. Alkesh Jani read with Rule 17(5) in this regard. – Reply By DR.MARIAPPAN GOVINDARAJAN – The Reply = The views of Shri Alkesh Jani seems to be
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =