new flat sale after oc alloted

Dhruv Jain (Practicioner) (202 Points)

13 June 2018

whether new flat sold after oc alloted by the authority will be a non gst supply or exempted sale. and what will be it's hsn no.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171253 Points)
Replied 13 June 2018

Non GST supply.......

No HSN code.....

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Dhruv Jain (Practicioner) (202 Points)
Replied 13 June 2018

Dear Sir,
whether we can claim ITC on material purchased which is used for non gst supply (in this case new flat) or we should dr the gst to p&l.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171253 Points)
Replied 13 June 2018

ITC is to be reversed proportionately. i.e. GST to be debited to P&L acc.

Dhruv Jain (Practicioner) (202 Points)
Replied 20 June 2018

Sir,

What if there is a sale of Flat where OC is not received, can we take the ITC of material purchased proportionately or not?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171253 Points)
Replied 20 June 2018

Yes, because it is taxable supply under GST.......

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