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Q.Input tax credit loss
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Q. Input tax credit loss

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Anonymous

posted 3 months ago

Can builder charge input tax credit loss and GST from customers?
I am purchasing property where builder is charging input tax credit loss and GST is this legal?
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A. Dear Sir,
You may please consult chartered accountant.

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A. Yes it's good for you.GST is applicable
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Vidhikarya

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Sunil Kumar Singh

Experience: 17 Year(s)

Responded 3 months ago

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A. Dear Sir, if you are purchasing the flat from the builder who is registered as a taxpayer in GST Regime and files his returns the builder in that case is supplying you his services and hence GST would be applicable.
Moreover GST is only applicable when supply of goods, services or both is made by any business entity .
This GST charged by you will be directly paid off to the government by the supplier after filing GSTR 3B and will also be shown as a sale to Business to Consumer *being unregistered person) in his GSTR 1.

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Saket Mohta

Experience: 1 Year(s)

Responded 3 months ago

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A. GST has to be paid by the customer but loss of Input Tax Credit is nowhere charged or payable by the customer.
If he is charging any other tax apart from GST then it is illegal.

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A. If you not paid GST then paid it

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 3 months ago

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