Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

GST credit on pre Emi interest/assured rental/late possession penalty as special discount after supply of services us15(3)(b) of CGST act., Goods and Services Tax - GST

Issue Id: - 113620
Dated: 16-4-2018
By:- aditya Kumar
GST credit on pre Emi interest/assured rental/late possession penalty as special discount after supply of services us15(3)(b) of CGST act.

  • Contents

If we pay as per agreement to sale, monthly pre Emi interest/assured rental/late possession penalty on sale of under construction flats to customers, Can we reverse GST by issuing credit note on pre Emi interest/assured rental/late possession penalty as special discount after supply of services us15(3)(b) of CGST act.?

If yes then,how much time is available for issuing credit note 1 year ot last date of filing annual return?

------------

Aditya

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 4-5-2018
By:- kollengode venkitaraman

ASSUMING YOU ARE A BUILDER AND YOU ARE LIABLE TO PAY GST ON THE CONSIDERATION RECEIVED FROM THE CUSTOMERS ON THE AGREEMENT TO SELL UNDER CONSTRUCTION BUILDING, YOU CAN NOTGIVE CREDIT NOTE FOR THE ASSURED RENTAL/PENALTY FOR DELAYED DELIVERY. THE CUSTOMER HAS TO RAISE A BILL FOR THIS ON YOU AND ASSUMING THE TOTAL AMOUNT IS BELOW RS. 20 LAKHS, NO GST NEED BE PAID BY HIM. RCM WILL NOT NOW APPLY TILL JUNE 2018. YOU HAVE TO PAY GST ON THE FULL CONTRACTED PRICE OF THE BUILDING.


1

Old Query - New Comments are closed.

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||