A builder intend to construct a complex or building and sale it to a buyer. It is a supply as per Para 5(b) of Schedule II of CGST Act . Such supply is taxable till the builder receives completion certificate. After obtaining completion certificate, it is considered as exempt services . This is because, after completion of work or first occupant of the project it become building and GST is not applicable on building.

Where promoter opts to continue with old scheme and pay tax at full rate (8%/12%) after availing ITC, proportionate reversal of Input Tax Credit is required in respect of apartments remaining unsold as on date of completion or first occupation, whichever is earlier.

As per above statement GST is not applicable on sales of building if the first occupation of project is given before complication of certificate. but we have paid GST on advance payment received after the first occupation. & now the project is complete. so what is the impact of paid GST in GST regime. what action we have to take . Kindly Guide ???

FOR MORE THAN 5 CRORES
AND
FOR LESS THAN 5 CRORES

RESPECTED SIR
PLEASE GUIDE ME AND OBLIGE.

THERE ARE TWO SLABS
(1) SALES TURNOVER LESS THAN 5 CRORES
AND
(2) SALES TURNOVER MORE THAN 5 CRORES

WITH KINDEST REGARDS

what is the due date of Q1 fy 2020-21 CMP-08,

Does the company is required to make provision in the books of accounts towards statutory contributions such as PF, Gratuity for retired employees, and superannuation scheme payable for the past period due to revision of salary and allowances from retrospective effect.

I submitted response in e-campaign tab of compliance portal. now when i am trying to change the response it getting submitted but not working. it again showing me the previous response only.
Like i am changing response from correct to not fully correct.
but its again showing me correct only.
Kindly guide.

I want to know my income from online logo design. Assets one computer and one AC, no debtors and creditors, no liabilities, can we make balance sheet schedule in ITR 4, how can we treat it? This is a case, in which whole income is above 10 lakh, and more than 5 lakh is expenditure. Is filling ITR 4 correct?

IGST. CGST. SGST
Liability. 100. 50. 50
RCM. 2. 1. 1

Input. 150. 40. 40

How to setoff and balance c/f and tax payable

Dear Experts,
Asseessee having income below 2.5 Lakh, hence he had not filed return, now he need ITR of same assessment year,

However in e-filing portal for the said AY filing section 199(2)(b) is only there Not 139(4),

Pls let me know since income is not chargeable to tax is it necessary to file condonation u/s 119(2)(b) to file ITR for the said AY,

Thanks
Nikhil

Dear Sir,

My query is, Service provider Company B got coal conversion work from Company A. Now Company B done the contract with Company C where job work will be done. now i want to know that what documents will be involve in process or how invoicing will be done for incoming or out going material?
Please advice.

I am doing interior decoration work for residents supply of material as well as labour charges and my consultation fees. Is gst applicable? If so, what is rate?