TMI BlogUtilize the ITC charged on purchases made in constructionX X X X Extracts X X X X X X X X Extracts X X X X ..... My Dear experts. Need your help with the following query- The assessee has construct immovable property and is not using for his own purpose but he is letting out the property for commercial use on which he is covered under the GST, can he entitled to utilize the ITC charged on purchases made in construction. In spite that Section 17(5)(d) of the Central Goods and Services Tax Act, 2017 tre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ats input tax credit related to goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account as a blocked credit . In other words, input credit for the same is not available. - Reply By Shilpi Jain - The Reply = Orissa HC decision allows credit in this case though this is pending before SC presently. You co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld take and not utilise or reverse under protest until final verdict - Reply By Himansu Sekhar - The Reply = As per Sec 17 the ITC is not available. Hon'ble High Court Odisha has not made the sec. Ultra vires. - Reply By KASTURI SETHI - The Reply = I agree with Sh.Himansu Sekhar Ji. Until and unless the issue is decided by the Apex Court, the present law is in force and have have t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be followed de jure. - Reply By Jasbir Uppal - The Reply = Dear Sir/Madam, Lots of thanks for given your valuable opinion on quarry Yes you are right. In case the assess claim depreciation under Income Tax Act, 1961 @10% on written down value basis then how to possible for claimed Depreciation on the value of ITC claim on GST portal and no set off taken for the liability to pay. If ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue is decided by the Apex Court against the assess - Utilize the ITC charged on purchases made in construction - Query Started By: - Jasbir Uppal Dated:- 4-3-2022 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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