Am I entitled to Input Credit Tax?
Ramacharlu Manohar's post:
I had purchased a flat in 2015. After one year the project came to a stop. The builder restarted the work in 2018 June. I am now forced to pay GST at 12% on the balance work which is about 35%. Am I entitled to Input Credit Tax? If so how to claim it from the builder? more
I had purchased a flat in 2015. After one year the project came to a stop. The builder restarted the work in 2018 June. I am now forced to pay GST at 12% on the balance work which is about 35%. Am I entitled to Input Credit Tax? If so how to claim it from the builder? more
Viewed by 2475
View all 9 comments Below 9 comments
Being a consumer by buying the flat you are not entitled to input credit. If every one is given input credit who will pay the tax? more
Aug 15
Unless you are yourself registered under the GST act and hold a valid GST number, you cannot take any input credit on any service or supply. WIthout a GST number, you are just a plain consumer and taxation law always means that the final end consumer pays. For whatever you consume or remains with you, you are not entitled to any GST input credit. Holders of valid GST number, have various compliances to discharge in addition to being in business or trade or such activity. Hope you have understood the scheme of things. more
Aug 15
yes u r eligible to input credit tax because the builder was suppose to completed above 60% work and you have paid for that. more
Aug 15
GST input credit comes into the picture only if you this flat is part of a business which collects GST from its customers. The imput credit is reduced from the amount which you collected on behalf of the govt, and you have to only deposit the nett amount with the government. more
Aug 15
Just write a letter to the builder and ask for reduction of price as the builder is claiming GST credit on the inputs for constructing the flat for you. Send the letter under registered cover. See what the builder responds. Even thereafter, the builder forces for the GST, file the complaint in Consumer Court. more
Aug 15
If you are a end-user of the flat , no input tax credit will be available to you, but if you are planning to use this flat as a input or capital goods , you may use it . more
Aug 15
