ITC on material issued to Contractor

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..... M/s ABC Hydro 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 elec .....

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..... tric project in 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, (contrac .....

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..... tor) on recoverable 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 rais .....

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..... ing GST invoice. 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 Ganes .....

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..... han Kalyani - The Reply = 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. .....

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..... The supply of goods happened by ABC to x. It was also open for x to buy goods from market instead of abc. It is a separate transaction. - ITC on material issued to Contractor - Query Started By: - S .....

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..... USHANTA MISHRA Dated:- 11-8-2019 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanage .....

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..... mentindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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