Gst input credit in real estate sector
Querist : Anonymous
on the audit of a real estate company, i came to know that after BU permission (i.e. building use permission), no input credit was availed by the company on any type of voucher related to the project. The mgmt explained that no GST is to be charged from the customers as soon as BU permission is granted.
kindly explain is the process right?
Querist : Anonymous
Thank you so much for the reply.
One more question I want to raise.
The BU permission was granted on 10.10.2017. However the real estate company didnot take input credit of GST for bills dated prior to 10.10.17 but accounted for on & after 10.10.2017.
Whether the company is right in not taking GST credit?
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