Sir,
We have completed our residential gated community project during Oct 2016 and property tax assessed for. The property is situated in Coimbatore.The contractor has submitted his final bill on 30.6.2017 and we are disputing the same. We are yet to account those bills. What is the position of Service Tax and VAT credits of those bills? If we account those bills now after negotiation with the contractor shall we take credit of the same ? Since we have completed the project we are registring the villas as full property including land and building and parties are paying total of 11% registration fee& stamp duty. There is no GST chrged to the customer as the project is completed. In this case what will be the fate of Input Credit that is going to araise while accounting the contractor's bills. ?
CAclubindia
