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BUILDER ITC
if builder sold flat as ready to move can he claim ITC which he paid at the time of flat construction ?
Replies (4)
Quick Summary
No, if completion certificate from local authority already received.
First builder purchase goods and claim ITC . then he receive CA and sale flat as ready to move . now builder need to reverse that ITC which he claim ?
Yes ! ITC to be reversed
Since the flats have been sold after receiving the ITC, ITC cannot be claimed against this supply.
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