real estate sector
if real estate sector has been kept out of ambit of GST then how can builder get benefit of tax credit?
Replies (8)
Gst to be charged on under construction property......now gst has been reduced on real estate sector..they will not get iTC
ohk....means builder can't recover tax from customers nd has to pay output tax.....right??
This is not a composition scheme...it a normal scheme only where dealer cam recover tax and pay to govt but he cannot utilise ITC...
Same like restaurant business
No. its not out of ambit of GST. Under construction properties are under supply, and GST will be charged at 5% (or 1%), but builder will not be able to claim input ITC, so they will increase the base rate!!
ohkkk....thank you so much to both of you
Welcome
ITC over under construction apply
yeah....got it....thanks a lot ma'am
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