https://www.taxtmi.com/notifications?id=129863 Rules 42 and 43 (effective 1 April 2019) require project-wise calculation and final reconciliation of common input tax credit for construction services under clause (b) of paragraph 5 of Schedule II. Aggregated carpet area values E and F determine apportionment; provisional common credits (C3aggregate_comm) and final credits (C3final_comm, Tefinal) are computed by prescribed formulas. Excess declared credit must be reversed in FORM GSTR-3B or FORM GST DRC-03 by the September following project completion or first occupation, with interest from 1 April of the succeeding year; shortfalls may be claimed as credit in that period. Assignment rules apply where inputs or capital goods serve multiple projects. en-us Fri, 29 Mar 2019 00:00:00 +0530 Fri, 24 May 2019 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129863 Rules 42 and 43 (effective 1 April 2019) require project-wise calculation and final reconciliation of common input tax credit for construction services under clause (b) of paragraph 5 of Schedule II. Aggregated carpet area values E and F determine apportionment; provisional common credits (C3aggregate_comm) and final credits (C3final_comm, Tefinal) are computed by prescribed formulas. Excess declared credit must be reversed in FORM GSTR-3B or FORM GST DRC-03 by the September following project completion or first occupation, with interest from 1 April of the succeeding year; shortfalls may be claimed as credit in that period. Assignment rules apply where inputs or capital goods serve multiple projects. Notifications GST - States Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129863