If the item is of capital nature but for availing credit,the registered person has treated such item as revenue nature in their books then whether the credit is available or not
final crux for aar ruling will be sir itc will be available for construction of immovable property that is other than of plant & machinary if it is of revenue nature whether i am right sir
Sir please provide clarification about whether ITC of construction materials purchased by builder is available to builder if they sold flats and shops after constructing please make one detailed video on ITC in case of builders and developers 🙏
Once construction completed and got occupancy certificate, it will become immovable property. You need not to pay the GST as well as, not eligible for ITC, need to reverse it. If you already entered into agreement before completion of construction, it is liable to pay GST.
Whether works contract company is eligible for ITC, if any materials purchased by works contract company for construction of immoveable property to client?
itc cannot be claimed for motor vehicles, upto 13 seating capacity including driver except when used for a) further supply , b) imparting or training , transportation, if you are using e rickshaw for passanger transportation , you can claim itc
Thanks a lottt Sir, Regards, Dharminder Sikka
Thanks Sir 👍👍👍
🙏 Thank you Sir for valuable
information
What about Fixtures, furniture fixed to wall. Like wall cabinets debited to Furniture. Also lifts.
Sir, ITC - 0️⃣3️⃣ filing pr video banana please. (In case of Nil filing of ITC - 03) Thanks sir❤
👍👍👏👏
Hi Sir, when we could see the GST books updated by Finance Act 2?
If the item is of capital nature but for availing credit,the registered person has treated such item as revenue nature in their books then whether the credit is available or not
Accounting rules and standards should be followed, if standard allows it to be recognised as revenue then ITC can be availed
Sir please reply
final crux for aar ruling will be sir itc will be available for construction of immovable property that is other than of plant & machinary if it is of revenue nature whether i am right sir
yes
Sir please provide clarification about whether ITC of construction materials purchased by builder is available to builder if they sold flats and shops after constructing please make one detailed video on ITC in case of builders and developers 🙏
I think not available as after construction sold, hence not a supply, it won't be available
Once construction completed and got occupancy certificate, it will become immovable property. You need not to pay the GST as well as, not eligible for ITC, need to reverse it. If you already entered into agreement before completion of construction, it is liable to pay GST.
Flat sold after construction is inventory
Sir make a video on sec 16(2),rule 37 vis a vis standard accounting practice
Whether works contract company is eligible for ITC, if any materials purchased by works contract company for construction of immoveable property to client?
What if it is in nature of capital expenditures but debited to pl account
Section 16(3) of cgst Act is the accurate answer.
Sir, Grant-in-aid (SUBSIDY)received from State Govt. for private laboratory to meet international standards attracts any GST?
no
Sir why supreme court is delaying its final verdict on Safari retreat case for so long???
🙏
Good evening sir, sir kya E- rickshaw itc claim kar sakte h
itc cannot be claimed for motor vehicles, upto 13 seating capacity including driver except when used for a) further supply , b) imparting or training , transportation,
if you are using e rickshaw for passanger transportation , you can claim itc
Sir please prepare one video relating to judgement of mrityunjay Kumar case
What about this?
Karnataka - M/s. Tarun Realtors Pvt. Ltd. Bangaluru vide order dtd.30.09.2019.
GOV TENDER CIVIL WORKS
Municipal gives add 18% gst then
Can I apply for ITC and pay direct tax in Gst the whole 18% gst
Which one is right ?