To the best of my knowledge and experience I am confident that there is input credit available on works Contract. On raising my observation working in CA Firm CA has forced me to leave. I am not working now with him. If that of his client is asked by department to reverse the input credit claim and pay the tax with the interest. What the institute penalize such CA.
ITC shall not be available for any work contract services. ITC for the construction of an immovable property cannot be availed, except where the input service is used for further work contract services. |