9911796707
TMI Blog2023 (4) TMI 699X X X X Extracts X X X X X X X X Extracts X X X X ..... y. Fact of the case is that the petitioner is a construction company. They have a works contract agreement with the M/s Hotel Polo Pvt. Ltd. and constructed a hotel at Agartala. In the process of construction they procured materials and also took the services of Sub-contractors. For the purpose of providing inward output service of works contract service, the petitioner receives inward supply of various goods and services on payment of GST. The returns were also filed and the taxes were paid. So, in the process of taxes he is entitled for Input Tax Credit (ITC) and accordingly amounts have been remitted by the Assessee. But, in that process, the respondents have raised Input Tax Credit against the petitioner under Section 74(1) of CGST Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n contractor will be entitled to take ITC on the tax invoice raised by his sub-contractor. Therefore, ITC is not applicable to the petitioner in respect of subject works contract services for construction of a hotel building and amenity block'. He submitted that such observation is devoid of any logic. Further, it is submitted that a demand notice cannot be confirmed upon the assessee, without specifying the charges and notifying the exact statutory provisions, based on which such demand is proposed. The respondents have proposed to deny ITC amounting to Rs.1,42,33,194/-, availed on works contract services for construction of immovable property, on the ground that such availment is in violation of 17(5)(c) of the CGST Act. Mr. P. Datta, le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plies including zero-rated supplies. (3) The value of exempt supply under sub-section (2) shall be such as may be prescribed, and shall include supplies on which the recipient is liable to pay tax on reverse charge basis, transactions in securities, sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building. (4) A banking company or a financial institution including a nonbanking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to either comply with the provisions of sub-section (2), or avail of, every month, an amount equal to fifty per cent of the eligible input tax credit on inputs, capital goods and input services in that mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft, or (II) in the supply of general insurance services in respect of such motor vehicles, vessels or aircraft insured by him; (b) the following supply of goods or services or both- (i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surger, leasing, renting or hiring of motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) except when used for the purposes specified therein, life insurance and heal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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