TaxTMI 
TaxTMI 
TaxTMI 
ITC on material issued to Contractor
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....TC on material issued to Contractor<br> Query (Issue) Started By: - SUSHANTA MISHRA Dated:- 11-8-2019 Last Reply Date:- 12-8-2019 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>M/s ABC Hydro ....
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....Ltd is engaged in the business of generation of Electricity. It has four hydro electric project in the state of Himachal Pradesh. The company has started construction of a new hydro electric project i....
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....n the state of HP. The company has awarded a contract for construction of dam to M/s X Ltd. As per terms of contract M/s ABC (contractee) shall supply Cement and Steel to M/s X, (contractor) on recove....
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....rable basis to maintain quality . Accordingly M/s ABC Ltd purchased Cement and Steel from manufacturer with GST paid invoices and issued the materials (cement and steel) to M/s X by raising GST invoic....
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....e. Whether M/s ABC can claim ITC? Will it not covered under Block credit under Sec 17(5)(d) as the inputs are used for works account for own use? May please clarify. Reply By Ganeshan Kalyani: The Re....
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....ply: For this particular transaction M/a. ABC will considered as trading and thus becomes eligible for credit. Reply By Himansu Sekhar: The Reply: ABC can take the credit. The supply of goods happe....
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....ned by ABC to x. It was also open for x to buy goods from market instead of abc. It is a separate transaction.<br> Discussion Forum - Knowledge Sharing ....