b.u.permission
asif shaikh (190 Points)
11 June 2018asif shaikh (190 Points)
11 June 2018
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 11 June 2018
What is b.u permisssion? you mean after completion?
if 10 flats are sold after completion, it becomes supply of immovable property and not taxable under GST.
However, proportionate input tax credit need to be reversed on those 10 flats as per Section 17(2) of CGST Act.