TaxTMI 
TaxTMI 
Hello sirs/madam,
Whether RCM CREDIT could be availed under new scheme / condition of tax rates (1% or 5%) for REP projects without ITC applicable from 01.04.2019?? Whether ITC & RCM credit are different in this scenario??
Kindly clarify. Thank you.
REAL ESTATE SECTOR
25 Aug 2022 
2 Replies 
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Input Tax Credit exclusion under real estate composition scheme bars claiming reverse charge credit for REP projects.
Where the statutory scheme for real estate projects disallows Input Tax Credit, credit for taxes paid under the Reverse Charge Mechanism is also not available because RCM credits form part of the input tax credit regime; thus developers subject to the scheme cannot separately claim RCM credit for inward supplies. (AI Summary)
Where the statutory scheme for real estate projects disallows Input Tax Credit, credit for taxes paid under the Reverse Charge Mechanism is also not available because RCM credits form part of the input tax credit regime; thus developers subject to the scheme cannot separately claim RCM credit for inward supplies. (AI Summary)