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I have bought the Under construction flat in July 2018 under affordable housing at 8% GST. At that time we were not knowing about ITC(Input tax credit) builder also not told us about that. In April when government stopped the ITC and put the 1% GST for affordable houses we got to know about the ITC. As builder was not giving the ITC benefit previously we asked him to pass the benefits. But now builder is not ready to pass the ITC benefit and nor he is ready to take 1% GST for the remaining amount that is left. Builder is saying as per the agreement he is not liable to pay the ITC benefit to me. Also he is constructing 7th floor extra while in my agreement it is clearly written that builder can not create more than 6 floor. Could you please suggest whether builder is liable to give ITC benefit or 1% GST if i bought the flat before 1-april-2019? and if he is still not ready to give the benefits then in both the cases where should i complain and what is my legal rights?

A. Dear Client,
Contact me personally. I will surely help you out in this matter and can explain you more. Do pay the consultation charges before consultation.

Regards

Munish Goyal Advocate
Senior Counsel, worked at almost all High Courts in India.
www.Vidhikarya.com
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Kishan Dutt Kalaskar Retired Judge
Kishan Dutt Kalaskar Retired Judge Experience: 33 Year(s) Bangalore
Saket  Mohta
Saket Mohta Experience: 1 Year(s) Kolkata
Saket  Mohta
Saket Mohta Experience: 1 Year(s) Kolkata
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Anonymous

Posted 8 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?

A. Dear Sir,
You may please consult chartered accountant.
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Sunil Kumar  Singh
Sunil Kumar Singh Experience: 17 Year(s) Kanpur
Saket  Mohta
Saket Mohta Experience: 1 Year(s) Kolkata
Rakesh Chander  Agrawal
Rakesh Chander Agrawal Experience: 31 Year(s) East Delhi
Please help with the answers for these questions; 1. If my revenue is less than 40 lakhs per annum then is it that I don't have to register? 2. I f I am already registered then what do I do, do I surrender the GST registration? 3. Do I not take GST from my customer till teh revenue reaches 40 lakhs? Thanks in advance

A. Dear Client,
Better to get in touch with Tax Practitioner or a Chartered Accountant who is filing the Income Tax Return + other Returns to the Tax Authorities regularly and well versed in subsidies,tax rebates,tax exemptions etc.
Shanti Ranjan Behera,
Advocate
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Kishan Dutt Kalaskar Retired Judge
Kishan Dutt Kalaskar Retired Judge Experience: 33 Year(s) Bangalore
Saket  Mohta
Saket Mohta Experience: 1 Year(s) Kolkata
Rameshwar  Dadhe
Rameshwar Dadhe Experience: 3 Year(s) Aurangabad
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Rajiv Mehta

Posted 11 months ago

Builder who had booked and sold flats prior to year 2013 and did not charge VAT at relevant time is now after 5 years collecting VAT .Whether the action of builder in collecting VAT is correct and legal as now after 2017 gst has come in force and builder is also issuing receipts under GSTN

A. Dear Mr Mehta,

The builder could have collected VAT during pre GST REGIME and claim the same carry forward VAT Inputs in GST TRAN 1 when the idea of GST was implemented.
Since the builder is now raising GST invoices and VAT, CST, has already been abolished as a part of Indirect Taxes the builder cannot charge or claim VAT neither he can take the benefit of the same in TRAN 1.
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