Can I take the Input Tax Credit on borewell expenses..?

Asked on January 15, 2019 in Miscellaneous.
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4 Answer(s)

if the supplier is registered and is ready to give the credit (upload the invoice in his gstr -1), then you can take it otherwise write it off as an expense.

Answered on January 15, 2019.
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As per me, Since the construction of Borewell is not covered under plant & machinery definition, so it is covered under immovable property and the expenses on construction are capitalized in books of accounts. Therefore the ITC on same is blocked u/s 17(5). Unless it is used in further outward supply.

Answered on January 15, 2019.
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yes, that was i am asking for….

Why is not covered under machinery..?

Answered on January 15, 2019.
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Is borewell is done for business purpose?

Answered on January 15, 2019.
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Your Answer

Gen GST