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GST on BUILDER'S

K CHANDRAKAR (dy mgr accounts) (49 Points)

23 May 2017

please clarify the impact of GST on BUILDER'S.... earlier there was abatement now what?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182814 Points)
Replied 23 May 2017

Yes, no abatement, but you can take input supply credits which was not allowed in abatement. So, finally tax burden may reduce at 12% GST.

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K CHANDRAKAR (dy mgr accounts) (49 Points)
Replied 24 May 2017

if I have constructed 200 flats out of which 180 booked and client paid 65% amount and we paid ST on that amount. now what happened to that balance 35% how GST will applicable, and how can I take ITC on which bills all bills or which bill we can take ITC??