As on 30.06.2017; We had Constructed 60% of building and utilized Material and services on which we had paid VAT and Servie tax ; same is not yet sold to anyone by us.
Sale takes place after 01.07.2017 ; On what value shall GST be payable ? Whether Can take credit of VAT and service tax paid ?
Balance 40% work is done after 01.07.2017.
Hi. No demand is raised ; just work is done 60% ; Input TAx of VAT and Service tax is paid ; Since No sale done No output tax is paid in VAT or Service tax.
Hii,
60% of constructed before 30.06.2017 and 40% of construction done after 01.07.2017.
1. 60% of Construction under vat and service tax :- you have already taken as input in your returns !!! So there is no subject of Transitional credit
2. 40% of construction after 01.07.2017 you will receive GST bill only. (GST input)
3. GST payable on 18% of value and the SAC code is 995411 ??
Jitendra Agarwal & Associates
Bengaluru
CA Inter
View Details
N N V Satish & Co.,
Hyderabad
CA Inter
View Details
CCI
Pro
CAclubindia
