Service tax sale of flat after cc obtained

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2015 We have sold flat value of Rs.80 lakhs including land and building. we have obtained cc for the said project.we have registered flat including land and uds for stamp duty purpose.we have used entire input credit related to this project and general input credit 100% . Kindly guide me hoe reverse the the input credit used as per rule 6.

CA Raman Singla

CA Raman Singla (Expert)
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23 March 2015 The mechanism for reversing cenvat credit is explained under rule 6 (2) and rule 6 (3) of cenvat credit rules,2004. There are various options available which can be decided only after determining the complete facts of the case and can also results in major benefit to the assessee. For analysis and updations on Indirect taxes u can login to our website www.indirecttaxprofessionals.com.
Mail: caramansingla@gmail.com