builder is liable to pass benefit of ITC
If BBA was signed before GST period and sale price was decided pre GST era than builder is liable to pass benefit of ITC to consumers according to sec 171 of GST Act. Even if raw material was purchased pre GST and was not consumed during pre GST (not purchased before 30/6/2016) builder will take benefit ITC on account of Excise Duty .The ITC availed on opening stock on account of excise duty should be passed to home buyers more
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When reduction is made available, the benefit should be passed on to the consumer / purchaser. more
Jul 22
No, not excise duty will be passed on , but final agreement is made after obtaining BU permission then GST benifit can be passed on but not excise duty more
Jul 20
Dealer having opening stock on 1/7/2017 can claim ITC on account of excise duty paid on the goods having in possession. To claim ITC dealer will file GST TRANS FORM . This claimed ITC will be passed to consumer by reducing base price. more
Jul 20
GST of 18% on services is too high. It should be reduced to 5% on essential services like banking , insurance maintainance of residential appartments etc .Wish someone would take this up with govt. more
Jul 20
Sir, our RWA collects maintenance charges @3500 p.m. payable quarterly in advance like Mr.Sundararaman's case.1. Maintenance and security are outsourced and the outsourcing agency collects GST @18%on their bill amount. 2. The agency insists on the cash payment if GST is not to be charged and sometimes it has been obliged also. I shall be thankful if anyone kindly clarifies: 1) whether GST is justified in this case? 2) If GST is to be paid, then whether is making cash payments ostensibly to avoid GST is legal avoidance (not evasion) and justified? more
Jul 20
