BUILDER ITC
Mondira Saha (GST) (3925 Points)
26 August 2022
if builder sold flat as ready to move can he claim ITC which he paid at the time of flat construction ?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 26 August 2022
No, if completion certificate from local authority already received.
Mondira Saha
(GST)
(3925 Points)
Replied 26 August 2022
First builder purchase goods and claim ITC . then he receive CA and sale flat as ready to move . now builder need to reverse that ITC which he claim ?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 27 August 2022
Since the flats have been sold after receiving the ITC, ITC cannot be claimed against this supply.
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