Input Tax Credit

[Ashwin Bhalakiya]

My company have a factory. In the factory done painting work for which given works contract. Received bill with GST. Can we take Input Tax credit or put all as expenses.

I have also changed Roofs of Factory which includes Roof cost as well as fitting Charges. On This can my Company claim ITC

Pl give your opinion.

 

AI Summary

Input Tax Credit eligibility: ITC blocked for capitalised construction/renovation of immovable property but allowed if not capitalised.
Input tax credit is blocked under Section 17(5)(d) for goods or services used in construction, reconstruction, renovation, additions, alterations or repairs of an immovable property (other than plant or machinery) to the extent those costs are capitalised; if painting, repair or roof-replacement costs are not capitalised but expensed, ITC is indicated to be available.