Gst itc

srinivasa bhanu sankar (Querist) 10 September 2020 This query is : Resolved
Sir
My client is a builder and constructed residential apartment of 120 flats. On dt:10.10.2018 occupation certificate has taken and after that date 80 flats registrations done and prior to OC 40 flats registrations done. Now the department is telling that the assessee has to restrict their ITC in proportion to the flats registered before OC i.e. 33% of the ITC shall be utilised and the remaining shall be disallowed. Please enlighten on this issue.

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Dr J C Vashista (Expert) 11 September 2020
Commercial query.
You can afford to engage a lawyer, seek professional services of a lawyer.

P. Venu (Expert) 12 September 2020
"My client"! When you professionally engaged, you need to find solutions, professionally.

Rajendra K Goyal (Expert) 13 September 2020
What is ITC, we are aware of IDC (internal development charges)?

Please give clear material facts.

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