Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
Supply classified as works contract u/s 2(119) of CGST Act. Applicant executes deposit works on behalf of consumers/agencies under two modes. In second mode, applicant eligible for input tax credit on materials, labor, installation, and overheads as per Section 16, not blocked u/s 17(5). Ownership vests with applicant after construction, but work done on behalf of customers, not on applicant's own account. Hence, input tax credit available despite applicant being custodian of constructed lines credited in books.
Supply classified as works contract u/s 2(119) of CGST Act. Applicant executes deposit works on behalf of consumers/agencies under two modes. In second mode, applicant eligible for input tax credit on materials, labor, installation, and overheads as per Section 16, not blocked u/s 17(5). Ownership vests with applicant after construction, but work done on behalf of customers, not on applicant's own account. Hence, input tax credit available despite applicant being custodian of constructed lines credited in books.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
