Asif shaikh

This discussion clarifies GST implications for real estate businesses paying tax at a concessional rate of 5%. It addresses whether Input Tax Credit (ITC) can be claimed on taxes paid under the Reverse Charge Mechanism (RCM), such as for GTA services or URD purchases. The consensus is that while RCM is payable by the client, ITC is generally not available when opting for the concessional 5% GST rate in real estate.