https://www.taxtmi.com/article/detailed?id=8822 Post-amendment, project credits are treated as common credit with monthly reversals computed by reference to the carpet area of exempt or identified-to-be-sold-after-completion units, and a final recalculation on project completion based on carpet area of unsold units. Credits validly availed prior to the amendment date need not be re-computed; only credits availed from the amendment date are subject to the new reversal methodology, whereas projects completing before the amendment remain subject to revenue-based reversal as per the prior law. Transitional and own-account construction issues may require proportionate reversal on a reasonable basis. en-us Fri, 15 Nov 2019 11:21:52 +0530 Fri, 15 Nov 2019 12:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8822 Post-amendment, project credits are treated as common credit with monthly reversals computed by reference to the carpet area of exempt or identified-to-be-sold-after-completion units, and a final recalculation on project completion based on carpet area of unsold units. Credits validly availed prior to the amendment date need not be re-computed; only credits availed from the amendment date are subject to the new reversal methodology, whereas projects completing before the amendment remain subject to revenue-based reversal as per the prior law. Transitional and own-account construction issues may require proportionate reversal on a reasonable basis. Articles Goods and Services Tax - GST Fri, 15 Nov 2019 11:21:52 +0530 https://www.taxtmi.com/article/detailed?id=8822