GST % for land owner in JV from VAT Reg to GST reg 5%
This query is : Resolved
Rathnakara
(Querist)
28 November 2019
Dear Sir , As a land owner I had given for apartment development in joint Venture. That time it was VAT REGIME. Down the line government changed RERA was brought and GST Introduced. After GST introduced, it was calculated differently and now its flat 5% . So how to solve this as my builder asking 12 % on highest price paid on the sale of his flat. Pls experts in this area require your help.
CA R SEETHARAMAN
(Expert)
29 November 2019
He might have taken ITC on his inputs that's why he is charging 12% it's okay but he has to pass on the ITC taken on inputs to you.
Rathnakara
(Querist)
20 December 2019
Dear sir , I do need a GST Clause where it says ITC taken and it should be passed to land owner . One more thing is , Is there is any where Land owners should not pay any GST for the project started before GST.... I do require your concern . In addition I can meet you personally also.
CA R SEETHARAMAN
(Expert)
21 December 2019
I am in UK now coming to India only in April. For projects started before GST but GST applicable on payment received after GST.
CA R SEETHARAMAN
(Expert)
21 December 2019
Builder Guilty of not passing benefit of ITC to purchasers of flats: NAA
It is evident from the above that the Respondent has denied benefit of ITC to the Applicants as well as the rest 64 purchasers of flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and has thus realized more price from them than what he was entitled to charge and has also compelled them to pay more GST than what they were required to pay
It is evident from the above that the Respondent has denied benefit of ITC to the Applicants as well as the rest 64 purchasers of flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and has thus realized more price from them than what he was entitled to charge and has also compelled them to pay more GST than what they were required to pay
CA R SEETHARAMAN
(Expert)
21 December 2019
Builder Guilty of not passing benefit of ITC to purchasers of flats: NAA
It is evident from the above that the Respondent has denied benefit of ITC to the Applicants as well as the rest 64 purchasers of flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and has thus realized more price from them than what he was entitled to charge and has also compelled them to pay more GST than what they were required to pay
It is evident from the above that the Respondent has denied benefit of ITC to the Applicants as well as the rest 64 purchasers of flats in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and has thus realized more price from them than what he was entitled to charge and has also compelled them to pay more GST than what they were required to pay
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