Old stock in real estate
This query is : Resolved
komal ameta
(Querist)
12 July 2017
hello Sir,
I am a developer of real estate. having old stock of building which was taxed as old tax system, now on selling of the stock what rate will applicable and will there any abatement for old stock. please solve my query sir
I am a developer of real estate. having old stock of building which was taxed as old tax system, now on selling of the stock what rate will applicable and will there any abatement for old stock. please solve my query sir
CA R SEETHARAMAN
(Expert)
12 July 2017
12% GST applicable on such sale claim ITC on VAT, service tax and excise duty paid on materials used and service utilised. No abatement available.
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