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help me me on gst reverse on property topic
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 ???
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.
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)).
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.
the company charge gst not on land , They charge gst 12 % on EDC (external devlopment charge).
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
but under sec 17 of cgst act no ITC is it applicable ??
refer sec 17(5)(g) of CGST Act: not allowed in case of personal consumption
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