Reversal of itc on new project
This query is : Resolved
15 June 2019
Hi All
I have a query in the recent notification for Real Estate Sector, if I am opting for New scheme then I have to reverse the ITC of earlier project as per the formula as prescribed in the notification it self. my query is in % of invoice ? if I have not raised the invoice till 31st March 2019 but my milestone due but actual invoicing was not done what should I take in % invoice in this case?
I have a query in the recent notification for Real Estate Sector, if I am opting for New scheme then I have to reverse the ITC of earlier project as per the formula as prescribed in the notification it self. my query is in % of invoice ? if I have not raised the invoice till 31st March 2019 but my milestone due but actual invoicing was not done what should I take in % invoice in this case?
16 June 2019
Take 0% as no invoice raised.
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