22 November 2018
My question is that one of individual was registered under GST as property dealer. They construct an individual house and sell them to other individual. They buy the construction material cement, bricks, electrical, sanitary etc etc in their name (GST No.)
They sell the house to other without GST (No GST on completed immovable Property).
My question is that individual seller (Reg.Person ) eligible for refund of ITC on material used to make house.
23 November 2018
As per Section 54 of the CGST Act refund is available only on zero rated supplies and inverted duty structure supplies (where input rate is higher than output rate) and this excludes exempt and Nil rated supplies. Hence no refund is admissible in your case.
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