TaxTMI 
TaxTMI 
TaxTMI 
ITC Real estate
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....TC Real estate<br> Query (Issue) Started By: - VishnuPriya R Dated:- 18-11-2024 Last Reply Date:- 19-11-2024 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>In case of sale of underconstruction commercial property, the GST rate is 12%. In such can ITC be availed for the construction of the particular commerical Property?. Thanks in advance Reply By Sadanand Bulbule: The Reply: Dear quer....
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....ist Plz refer Section 17[5][d] of the CGST Act and the ratio of Hon'ble Supreme Court's recent judgement in Safari Retreat Pvt Ltd case reported in 2024 (10) TMI 286. Reply By Ganeshan Kalyani: The Reply: I agree with the view of expert Sri Sadanand Bulbule Sir Reply By KASTURI SETHI: The Reply: A cue along with relevant case law given by Sh.Sadanand Bulbule, Sir is more than sufficie....
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....nt. The query is too brief to reply in a comprehensive manner. Reply By Shilpi Jain: The Reply: Sale of underconstruction commercial property would be in the nature of a supply of a works contract service. If that be so, then credit of the construction expenses can be claimed. Reply By Amit Agrawal: The Reply: I agree with Ms. Shilpi Mam! Credit of the construction expenses can be claimed b....
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....y the builder / contractor providing work contract services (& charging gst @12% thereon) by way of construction & sale of under-construction commercial property to the buyer. These are ex facie views of mine and the same should not be construed as professional advice / suggestion or recommendation. Reply By Amit Agrawal: The Reply: And IF the querist is asking about availment of ITC at the en....
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....d of buyer of such commercial property (subject query is not clear, at-least to my mind), then, one should take a note the following SC ruling: Safari Retreat Pvt Ltd case reported in 2024 (10) TMI 286 These are ex facie views of mine and the same should not be construed as professional advice / suggestion or recommendation.<br> Discussion Forum - Knowledge Sharing ....