Builder

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I am a builder and manufacturing a multi flat residential tower... I have contracted the labour job to C Ltd... Building material I am purchasing in my own name. I will get not get ITC for labour contractor bill... But will get ITC for building material... Now if I sell any flat before completion then I will charge 12%...and deposit the GST... what if I sell after completion... I won't charge any GST.. What will happen to ITC on Inputs taken by me... Will i get refund... Or credit shall lapse.... Any answers...
Replies (1)

Your doubt is realistic. When output is not taxed, how can you take input credit? It will remained unutilized...........and finally lapse......


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