ITC on GST paid on Under Construction Commercial property

In my opinion, GST paid on purchase of Under Construction Commercial Property for furtherance of business is allowable .

 

Originally posted by : CA. Abhilash Krishnan P
	First case its blocked credit under section 17(5) if you have purchased it for own use.. second case you can avail.

Thank u Sir !!

Also can u pls tell how to recover the GST in case of cancellation of the purchase before it gets completed ?

Originally posted by : anil jain
	In my opinion, GST paid on purchase of Under Construction Commercial Property for furtherance of business is allowable .

Thank u for the reply !!

Can u provide any circular/rule/notification/section etc to support this view ?

Hi, in view of Supreme Court ruling in October, is GST ITC now available retrospectively. Our case is of a commercial property purchased under construction and paying 12% GST and now leased out for commercial purposes and monthly GST invoices are being generated. 

 itc-will-be-allowed-when-immovable-property-falls-under-definition-of-plan-machinery-sc-52661.asp