Goods and Services Tax – Started By: – pradeep kumar – Dated:- 10-12-2017 Last Replied Date:- 11-12-2017 – Hi experts, i have some doubts regardind the works contracts of 11.repair and maintainces of restarunts,banquiet hall,captria,kichen can i take ITC or not2.electrical items and fittings above like restarunts,captria etc can i takd itc or not3.if they how to accounted for like value-100+gst-10=110 can u brief me experts4.what about treatment of capital assets like above exmple thanks in advance – Reply By ANITA BHADRA – The Reply = Dear Sir as per Sec. 2(119) of CGST Act. Works Contract means a contract for building, construction, fabrication ,completion, erection, installation , fitting out, improvement , modification, repair ,mainten
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mp; maintenance pertain to immovable property. Embedded into earth. – Reply By Vamsi Krishna – The Reply = Sorry ,, there was a typing error in my previous message.. Ref the words in bold letters.. Works contract under GST is limited to contracts to do with Immovable property. (ref sec.2(119) where it is clearly defined). Sec.17(5) of CGST act mentions clearly that works contract services when supplied for construction of immovable property is ineligible for credit except where it is for further supply of works contract services. In your example the output services like restaurants, halls, cafeteria etc are not works contract services and therefore you are not entitled for credit on your repairs and maintenance, electrical works and related
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