Is GST RCM ITC available for settoff in construction of Residential Apartment sale

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This query is : Resolved

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This discussion explores whether Input Tax Credit (ITC) paid under the Reverse Charge Mechanism (RCM) for security services can be used to offset the GST liability on the sale of residential apartments. The general consensus is that ITC cannot be claimed against the 5% GST applicable to residential apartment sales.

manoj

manoj (Querist)
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07 August 2024 we had paid GST for security services under RCM category can we claim this ITC against our flat sale 5% GST payable.
Example: received Rs.10,00,000 against sale of flat+ Rs.50,000 GST(5%) payable Rs.50,000/-
we had paid RCM for security charges Rs.2,00,000+36,000 RCM(18%) deposited by us in GOVT.Treasury.
Now can we sett off above Rs.36,000 against our liability of Rs.50,000 and pay balance Rs.14,000/-?Please advise
with regards,
Manoj Nagdev
Mob 9323498800
email:Nagdevmanoj@gmail.com