I purchased commercial property from WTC Noida. Installments are twice a year since 2016. Now the property is ready for possession. Builder has not yet passed on the benefit of INPUT TAX CREDIT to buyers. I have sent them email reminders but no response. Kindly advise.
Thanks and Regards
Debashis Choudhury
Menu
Input tax credit
Replies (5)
Can you elaborate what you mean by not passed on the benefits of Input Tax Credit?
Hope you are aware what input tax credit is! Builders get refund of tax on raw materials of the project, which they are supposed to share with buyers. Hope its clear
wasn't the price for the said commercial property fixed in 2016? on that price they are charging GST. or there is any agreement for passing benefit between you and builder?
Gst was implemented in the country during 2017. It is the GST rule the builder is required to share the benefit with buyers. when the property was purchased GST was not there
There is no express provision in GST law for what you have mentioned sir. If the prices have been unduly increased after GST, there is a provision of anti-profiteering. You can raise a complaint to the anti-profiteering authority
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
