Builders not passing ITC
Builders taking complete 12% GST for new flat and not passing input tax credit (ITC) to customers. Govt increased this tax from 5.75% to 12% (double) with bringing the concept of ITC. If the Govt cant ensure the ITC is passed to customer, it should look at simply lowering gst rate and taking away ITC from builders... more
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I would like to seek views of the author as to what is the basis of saying that the builder has not passed on the input tax credit. Have you seen the costing sheet of the builder or not. In my view it require a complete study of the costing sheet or may be the balance sheet and may be only CA of the builder will be able to know the facts as to whether the builder is passing on the benefit of input tax credit or not. more
Jul 16
Govt. What is it ????? - Pocket friend of builder, corporate & etc. & to have fun / parties remembered everyday. Customer remembered once in 5 yrs. more
Jul 15
Why builders to pass ITC to Customers? If it is automated in system, may be customer no need to wait for ITC. more
Jul 15
This is true GST has failed for under construction flats. https://www.quora.com/Has-GST-failed-for-the-real-estate-sector/answer/Bharat-Darakh more
Jul 15
In Govt we pass certain rules but its implementation is never followed and with the result rules remain on the paper.Govt should ensure that it follows all the rules atleast for one year and catch the culprits and punish severly then only some improvements can be seen.Do'nt wait for the public to complain. more
Jul 15
