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help me me on gst reverse on property topic


Jyoti (Housewife)     06 August 2017

Jyoti
Housewife 
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My husband have gst number and run his spareparts business if he can give payment of a plot (land) for me then he can claim reversal of the 12 % gst of on EDC (EXTERNAL DEVLOPMENT CHARGES) of my plot land or not ????

avater

ISHU BANSAL   07 August 2017

ISHU BANSAL

 30 points

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Dear , your query is not very clear . can u please elaborate or text me at 9051757486

Jyoti (Housewife)     07 August 2017

Jyoti
Housewife 
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Hello sir ,
My name is jatin .I have gstin number and run my spare parts business. Now i am plan to purchase a land (plot) from eldeco company in ldh. Please tell me that the eldeco company charge me gst 12 % on EDC (external devlopment charges). Can i claim this charges for input credit ???

avater

CA Vamsi Krishna N (Finance & Accounts)     07 August 2017

CA Vamsi Krishna N
Finance & Accounts 
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If you purchase the land for business purposes then Input may be availed. But i doubt that the sale of Plot falls under Immovable property and GST is not leviable. How is the developer charging GST.

I will check the act and revert further.

Even if he charges for development of Land, GST credit can be availed only if the Land is purchased for business. But it is very clear that GST not to be charged on Immovable property.

Jyoti (Housewife)     07 August 2017

Jyoti
Housewife 
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dear sir , i am purchasing the land for build home for residential purpose

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Shivam Chomal   07 August 2017

Shivam Chomal

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You will not be allowed to claim credit of goods or sevices used for construction of immovable property even if such goods and services are used in the furtherance of business (as per section 17(5)(d)).

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Shivam Chomal   07 August 2017

Shivam Chomal

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if you are purchasing land then, GST not leviable, no GST on sale of land.

Also you will not get credit of any goods or service which you will use for construction of house on that land.

Jyoti (Housewife)     07 August 2017

Jyoti
Housewife 
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dear sir ,
the company charge gst not on land , They charge gst 12 % on EDC (external devlopment charge).

avater

CA Vamsi Krishna N (Finance & Accounts)     07 August 2017

CA Vamsi Krishna N
Finance & Accounts 
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Sale of Plot is not subject to GST.

GST on External Development charges paid for not for the furtherance of business and not eligible for ITC

Jyoti (Housewife)     07 August 2017

Jyoti
Housewife 
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dear sir
but under sec 17 of cgst act no ITC is it applicable ??


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