205· Explanation.––For the purposes of clauses (c) and (d), the expression “construction” includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property; If the lift /elevator is not capitalised in the books of accounts then the input tax credit is allowed.
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2019111· The article discusses the complexities surrounding the admissibility of input tax credit for structural support related to plant and machinery under the GST framework. Section 17 of the CGST Act 2017 generally blocks credits for civil structures, but allows exceptions for structural supports integral to plant and machinery. A case involving a company argued for tax …
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1013· The restriction contained in Section 17 (5) (d) is applicable to goods and services received by a taxable person for construction of an immovable property. When goods and services are received by a taxable person for construction of plant or machinery, there is no bar on eligibility to input tax credit.
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19 June 2024 Input Tax Credit Eligibility for Construction Equipment Vehicles **Question for Expert:** We own multiple construction vehicles (JCBs, Pokelands, trucks, dumpers) and …
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Accordingly. the credit of tax paid on Input goods and services used in construction of this support structure shall be available. It has been stated that …
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202416· A discussion on the eligibility of Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime focuses on electrical items, air conditioners, and other equipment.
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2024118· Builders and developers in the construction industry can claim input tax credit for taxes paid based on certain conditions on input services. …
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20241029· Supreme Court Clarifies Input Tax Credit on Construction Costs Under CGST Act, Interprets "Plant and Machinery" in Section 17 (5) The Supreme Court of India, in the case involving the Chief Commissioner of Central Goods and Service Tax and Safari Retreats, examined the availability of Input Tax Credit (ITC) on construction costs under the CGST Act, …
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#GSTCase-82-Input Tax Credit on construction of Sheds in factory premises not allowed and blocked by virtue of provisions of Section 17 (5) (c) and (d) of CGST Act, 2017
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Accordingly. the credit of tax paid on Input goods and services used in construction of this support structure shall be available. It has been stated that …
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2024118· Builders and developers in the construction industry can claim input tax credit for taxes paid based on certain conditions on input services. By doing so, they can reduce their tax liability on outward supplies and the GST collected on these supplies. In this blog, we will walk you through a comprehensive guide on GST input on the construction of buildings while …
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427· A participant in a discussion forum inquired about the eligibility of claiming Input Tax Credit (ITC) under the Goods and Services Tax (GST) for expenses incurred on interior design and materials for a new office. Several experts responded, referencing Section 17 of the CGST Act, 2017, which restricts ITC for construction-related activities when capitalized. Some …
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202447· Applicable GST provisions: Section 17 (5) CGST Act:- (c) Work 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 contract service.
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#GSTCase-82-Input Tax Credit on construction of Sheds in factory premises not allowed and blocked by virtue of provisions of Section 17 (5) (c) and (d) of CGST Act, 2017
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20241025· Discover the cases where Input Tax Credit under GST cannot be availed, including motor vehicles, club memberships, rent-a-cab services, and more.
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202513· This Article is already published in ICAI GST E-NEWSLETTER (49th Edition) Introduction The recent judgement of the Hon’ble Apex Court in …
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1 · With regards to the applicability of Input Tax Credit ( ITC ) under GST ( Goods and Services Tax ) for factory construction-related activities, the Gujarat Authority for Advance Ruling (AAR) has held that no proportionate ITC is admissible for the supply of steel, cement, installation services, or capital goods used in the construction of an immovable property in the form of a …
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915· This blog provides a comprehensive guide on Input Tax Credit (ITC) encompassing its nature, eligibility, and practical case studies.
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202513· This Article is already published in ICAI GST E-NEWSLETTER (49th Edition) Introduction The recent judgement of the Hon’ble Apex Court in …
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1 · With regards to the applicability of Input Tax Credit ( ITC ) under GST ( Goods and Services Tax ) for factory construction-related activities, the Gujarat Authority for Advance Ruling (AAR) has held that no proportionate ITC is admissible for the supply of steel, cement, installation services, or capital goods used in the construction of an immovable property in the form of a …
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2024104· In a landmark decision that significantly impacts India''s real estate and taxation landscape, the Supreme Court has established definitive criteria for claiming Input Tax Credits (ITC) under the GST framework.
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201932· 3. It appears that putting such restriction of input tax credit on construction equipment vehicles, mining equipment vehicles could not be the intention of the law makers. I fail to guess any reason for denying input tax credit on the said assets.
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1 · With regards to the applicability of Input Tax Credit ( ITC ) under GST ( Goods and Services Tax ) for factory construction-related activities, the Gujarat Authority for Advance Ruling (AAR) has held that no proportionate ITC is admissible for the supply of steel, cement, installation services, or capital goods used in the construction of an immovable property in the form of a …
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Above provisions restrict credit of Construction related expenses in certain scenarios and not all cases. In other words, credit of GST paid on expenses relating to construction of immovable property be it works contract or otherwise is not completely restricted, only in certain cases would the credit be disallowed.
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2024109· It had accumulated input credit (ITC) of GST amounting to more than Rs. 34 crores on these input goods and services used in the construction …
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20241213· The Goods and Services Tax (GST) represents one of the most transformative reforms in India’s indirect taxation landscape, promising …
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2020917· 2nd Interpretation: Construction includes re-construction, renovation, addition, etc. to the extent it is capitalized to the said immovable property, i.e. condition of capitalization …
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Understand ITC rules for capital goods. Learn how the input tax credit on the capital goods ledger is created under these regulations.
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427· A participant in a discussion forum inquired about the eligibility of claiming Input Tax Credit (ITC) under the Goods and Services Tax (GST) for expenses incurred on interior design and materials for a new office. Several experts responded, referencing Section 17 of the CGST Act, 2017, which restricts ITC for construction-related activities when capitalized. Some …
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