I had bought a flat in Trivandrum in Aug 2018 . Then the GST was 12% for residential flat .
However in April, GOI revised the GST of residential flat to 5% and my builder switched to 5% rate. I have been paying the rest of payments with 5% GST.
I have made almost 60% of my payments with 12% GST. .
Now the flat is about to be handed over to me .
The builder has informed me that I will NOT get input tax credit for the the payments I made with 12% GST since they have shifted to 5% GST and hence GOI would not be paying the Input tax credit.
Kindly let me know if I am ineligible for Input tax credit for the payments I made with 12% GST .
CAclubindia
