Godown Contruction - Material Gst Set Off Can We Take

Gayatri Deva
watch_later 2 years, 10 months ago


we have purchased new godown on rent basis for business purpose, so whatever material like pipe ,cement etc used for godown contruction  can we take GST setoff of that bill. if no then pls tell me how to pass entry.for example

Pipe pruchased for Godown Contruction.


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1 Answer

GST Payer watch_later 2 years, 10 months ago

Section 17 of CGST Act, says

Input credit cannot be taken for 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 including when such goods or services or both are used in the course or furtherance of business.

So you cannot take input credit.

You can capitalise the expenses by debiting Leasehold/Godown Asset and crediting party/payments.

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