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BUILDER ITC

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Mondira Saha

GST

3925 Points Posted on 26 August 2022

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

If a builder sells a flat as ready-to-move after receiving a completion certificate from the local authority, they cannot claim Input Tax Credit (ITC) paid during construction. In fact, any ITC previously claimed must be reversed. This is because the flats are considered supplied after the ITC has been availed, making it ineligible for the builder.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212444 Points Posted on 26 August 2022

No, if completion certificate from local authority already received.

Mondira Saha

GST

3925 Points Posted on 26 August 2022

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 ?