Regarding Claiming Input Tax credit
This query is : Resolved
08 April 2022
A sole proprietor doing construction business registered under GST, Purchases steel for a house he is constructing for his client. He received Input tax credit on the steel he purchased but he has no business with respect to GST and is filing only Nil return.
Two questions
1. Since its immovable property and can this be considered as works contract on a immovable property and hes not liable to take input credit for the same or is it different to the above statment.
2. At end of the contract is he supposed to Charge a bill for the contract with GST even though he is below the GST threshold limit.
Two questions
1. Since its immovable property and can this be considered as works contract on a immovable property and hes not liable to take input credit for the same or is it different to the above statment.
2. At end of the contract is he supposed to Charge a bill for the contract with GST even though he is below the GST threshold limit.
09 April 2022
1 ITC can be taken on construction contract where GST is charged on work done.
2 No GST in case of threshold not reached and not registered under GST.
2 No GST in case of threshold not reached and not registered under GST.
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09 April 2022
Thank you for your timely reply sir, what if the business is taken voluntary registration does it mean it has to charge GST on the bill no matter what ?
09 April 2022
Yes voluntary registration have been taken then GST have to be charged in the bill.
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