Can ITC of one project be utilised in other project, if a company is carrying multiple real estate projects under same GSTIN?
Lets say a project has been completed, but ITC relating to purchases made for such project is still lying un-utilised, can company use it for discharging output tax liability arising out of other project carried on, under same PAN?
Menu
Cross-utilisation of ITC among different real estate projects
Replies (4)
Yes, you can
no restrictions
no restrictions
I don't think that one project ITC can be adjusted in payment of Output tax liability of another , even though it's under the same PAN .
As per Faq on Cbec site , the promotor are required keep record of Input ,input services project wise. & if it is in 2 different state then it's 100% that you cannot Adjust ITC of one project in State A with Output Tax Liability of State B
As per Faq on Cbec site , the promotor are required keep record of Input ,input services project wise. & if it is in 2 different state then it's 100% that you cannot Adjust ITC of one project in State A with Output Tax Liability of State B
Dear Vishesh
IF YOU ARE CONTRACTOR & NOT THE BUILDER OR DEVELOPER THEN YOU CAN CLAIM ITC OF ONE PROJECT INTO OTHER , BUT THAT TO MAKE SURE THAT BOTH PROJECTS ARE IN SAME STATE.
*TO BE .........
Recent Threads
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
Related Threads
CAclubindia
