RCM APPLICABILITY ON BUILDERS AND DEVELOPERS
This query is : Resolved
24 November 2019
OUR CLIENT IS BUILDER AND THEY HAVE OPTED TO REMAIN IN OLD SCHEME OF GST RATES OF 12 % AND AVAILING ITC ON INPUTS AND INPUT SERVICES . OUR QUERY IS THAT WHETHER RCM APPLICABILITY ON PURCHASES FROM REGISTERED DEALERS ON LESS THAN 80 % FROM REGISTERED DEALERS IS APPLICABLE TO THOSE BUILDERS ALSO WHO HAS OPTED TO REMAIN IN OLD GST RATES OF 12 % , OR THIS IS ONLY APPLICABLE FOR THOSE BUILDERS WHO HAS TAKEN OPTION TO PAY GST @ 5 % AND NOT AVAILING ITC ON INPUT GOODS AND SERVICES.
25 November 2019
Such RCM is applicable to all builders.
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