https://www.taxtmi.com/article/detailed?id=9904 Blocked input tax credit under section 17(5) denies credit for works contract services and goods or services used in construction of immovable property when capitalised, and for goods lost, stolen, destroyed, written off, gifted or given as free samples. Determination depends on whether expenditures are capitalised, whether items qualify as plant and machinery (including foundations) or as immovable property by permanent attachment, and on whether losses are inherent to manufacture. Case law and guidance address reading down for letting purposes and exclude manufacturing loss from reversal. en-us Mon, 19 Jul 2021 11:54:12 +0530 Mon, 19 Jul 2021 11:54:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9904 Blocked input tax credit under section 17(5) denies credit for works contract services and goods or services used in construction of immovable property when capitalised, and for goods lost, stolen, destroyed, written off, gifted or given as free samples. Determination depends on whether expenditures are capitalised, whether items qualify as plant and machinery (including foundations) or as immovable property by permanent attachment, and on whether losses are inherent to manufacture. Case law and guidance address reading down for letting purposes and exclude manufacturing loss from reversal. Articles Goods and Services Tax - GST Mon, 19 Jul 2021 11:54:12 +0530 https://www.taxtmi.com/article/detailed?id=9904