ITC on works contracts
Query (Issue) Started By: – pradeep kumar Dated:- 10-12-2017 Last Reply Date:- 11-12-2017 Goods and Services Tax – GST
Got 4 Replies
GST
Hi experts, i have some doubts regardind the works contracts of 1
\n1.repair and maintainces of restarunts,banquiet hall,captria,kichen can i take ITC or not
\n2.electrical items and fittings above like restarunts,captria etc can i takd itc or not
\n3.if they how to accounted for like value-100+gst-10=110 can u brief me experts
\n4.what about treatment of capital assets like above exmple thanks in advance
\nReply By ANITA BHADRA:
\nThe Reply:
\nDear Sir
\nas per Sec. 2(119) of CGST Act. ” Works Contract” means a contract for building, construction, fabrication ,completion, erecti<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n is not admissible. I agree with Ms.Anita Bhadra, an expert. Repair & maintenance pertain to immovable property. Embedded into earth. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" ITC on works contracts Query (Issue) Started By: – pradeep kumar Dated:- 10-12-2017 Last Reply Date:- 11-12-2017 Goods and Services Tax – GSTGot 4 RepliesGSTHi experts, i have some doubts regardind the works contracts of 1 1.repair and maintainces of restarunts,banquiet hall,captria,kichen can i take ITC or not 2.electrical items and fittings above like restarunts,captria … Continue reading “ITC on works contracts”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9343","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9343"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9343\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nReply By Vamsi Krishna:
\nThe Reply:
\nSorry ,, there was a typing error in my previous message.. Ref the words in bold letters..
\nWorks contract under GST is limited to contracts to do with Immovable property. (ref sec.2(119) where it is clearly defined).
\nSec.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.
\nIn your example the output services like restaurants, halls, cafeteria etc are not works contract services and therefore you are not entitle<\/p>\n
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