Mr. A has sold land & building to Mr.Y.
can Mr.A claim the GST ITC on GST Paid On GIDC Transfer Fee & N.U. Penalty?
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GST ITC on GIDC Transfer Fees and N.U.Penalty
Replies (4)
If sale of building was subject to GST then ITC can be claimed. Otherwise no
Transfer fees on land and penalty on non utilization of plot.
Please elaborate the transactions taking place both inward and outward
transfer fees and non-utlisation penatly is payable to GIDC, by buyer party on transfer of land process. Such transfer fees + 18% GST is applicable.
Whether ITC on such GST paid is allowable ? Land will be Leasehold land which is given by GIDC on generally 99 years term.
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