ITC on works contracts

[pradeep kumar]

Hi 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 etc can i takd itc or not

3.if they how to accounted for like value-100+gst-10=110 can u brief me experts

4.what about treatment of capital assets like above exmple thanks in advance

AI Summary

ITC Not Available for Works Contracts on Immovable Property Under Section 2(119) of CGST Act for Business Use A user inquired about the eligibility of Input Tax Credit (ITC) under the Goods and Services Tax (GST) for works contracts related to repairs and maintenance of restaurants, banquet halls, cafeterias, and kitchens, as well as electrical fittings. Experts clarified that according to Section 2(119) of the CGST Act, works contracts pertain to immovable property and ITC is not available for such contracts, especially if the construction is for personal business use. The experts emphasized that repairs, maintenance, and electrical works related to immovable property do not qualify for ITC.