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BUILDER ITC

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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 ?
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On 26 August 2022 at 10:40 Report
Replies (4)
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SEO Sai Gr. Hosp.
211560 Points Posted on 26 August 2022

No, if completion certificate from local authority already received.

581 Reply
On 26 August 2022 at 11:34
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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 ?
100 Reply
On 26 August 2022 at 11:37
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243 Points Posted on 27 August 2022
Yes ! ITC to be reversed
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On 27 August 2022 at 14:12
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Chartered Accountant
5010 Points Posted on 27 August 2022

Since the flats have been sold after receiving the ITC, ITC cannot be claimed against this supply. 

8 Reply
On 27 August 2022 at 14:54


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