Real estate in gst rcm

This discussion clarifies GST implications for ongoing real estate projects under the old scheme. It addresses whether Input Tax Credit (ITC) needs to be reversed for exempted supplies (like sales after the Completion Certificate) or if tax must be paid under Reverse Charge Mechanism (RCM) after April 1, 2019. Furthermore, it questions the basis for any ITC reversal, specifically whether it should be calculated using valuation or area ratio.