Cenvat credit of cement and Steel under GST, Goods and Services Tax - GST

[Aitha RajyaLakshmi]

Sir,

Whether cenvat credit of Cement and Steel is available for a builder under GST? and if so whether it is available on repairs and renovation also?

Posts / Replies

[Rajagopalan Ranganathan]

Madam,

As per Section 16 of CGST Act, 2017 and as per GST Input Tax Credit- Final Rules-18.5.2017 there is no restriction in availing input tax credit in respect of cement and steel. However we have to await further Notification or instructions from the Department.. As of now there is no restriction.

[Himansu Sha]

The credit of the inputs and capital

Goodsds under the existing law is not available beacuase of the conditions of the exemption notf. 26/12-st. If the tax is given on the full value, credit availability on all inputs will be available as per sec. 16 of the cgst act. But the picture will be clear after some days. Please wait.

[KASTURI SETHI]

Wait for every aspect till the date of implementation. Anything can be changed at the last moment, especially there is doubt about exact and actual date of implementation. It can be deferred for one month at least.

[Ganeshan Kalyani]

In September the constitutional validity would lapse. So in any case the implementation date cannot go beyond Sept.

[MARIAPPAN GOVINDARAJAN]

It is likely that GST will be implemented by 01.07.2017.