Sale of Immovable Property GST ITC

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152 Points Posted on 19 February 2018
Can't Buyer utilize GST of 12% charged by builder on sale of Immovable Property (Output) with GST collected by buyer with Rental (GST)..
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On 19 February 2018 at 01:57 Report
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SEO Sai Gr. Hosp.
212511 Points Posted on 19 February 2018

NO      

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On 19 February 2018 at 08:04
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152 Points Posted on 19 February 2018
Buyer cannot utilize correct ?
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On 19 February 2018 at 10:01
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SEO Sai Gr. Hosp.
212511 Points Posted on 19 February 2018

Correct. Nature of business differs.

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On 19 February 2018 at 11:46
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Chartered Accountant
314 Points Posted on 19 February 2018

As per section 17 of CGST Act ,input tax credit of construction of immovable property cannot be utilised unless you are also involved in the business of construction of immovable property.

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On 19 February 2018 at 12:00
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Accounts Manager
1466 Points Posted on 19 February 2018

IF YOU ARE NOT RESLAE PROPERTY ,

YOU CAN NOT TAKE ITC 

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On 19 February 2018 at 15:41

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