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Sale of Immovable Property GST ITC
Can't Buyer utilize GST of 12% charged by builder on sale of Immovable Property (Output) with GST collected by buyer with Rental (GST)..
Replies (5)
NO
Buyer cannot utilize correct ?
Correct. Nature of business differs.
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.
IF YOU ARE NOT RESLAE PROPERTY ,
YOU CAN NOT TAKE ITC
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