Itc on works contract accquired by builders

ITC / Input 190 views 3 replies

A Builder Developer has given a contract to a company for construction of Building for which that company is charging GST.

Now when there is sale during underconstruction period, the builder is liable for GST @ 12%. So can the ITC from the contract be utilised against outward liability.

Replies (3)

Yes.

how to make entery for import purchase in TALLY, ? journal entery tell me anyone.
Yes you can claim itc


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