Reverse ITC availed on Pro rata basis on sale of plot after completion : AAR

By | October 12, 2018
(Last Updated On: October 12, 2018)

It is lawful to structure agreement by fixing land cost after absorbing development charges.

Input Tax Credit availed in respect of GST paid on goods and/or services used/consumed for development of land, in respect of plots sold after issuance of Completion Certificate is liable to be reversed on pro rata basis

AUTHORITY FOR ADVANCE RULINGS, KERALA

PPD Living Spaces (P.) Ltd., In re

B.G. KRISHNAN AND B.S. THYAGARAJABABU MEMBER

ADVANCE RULING NO. KER/20/2018

SEPTEMBER  26, 2018

Roy Peter for the Applicant.

Other GST Judgments

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