Home Forum Goods and Services Tax - GST Month 9 2018 2018 (9) This
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Input Reversal - Goods and Services Tax - GSTExtract A developer engages various contractors for putting up the Building. A percentage of contractor s Bill is kept as retention money which will be paid after long duration. Similarly some portion of Bill is not paid and kept as hold money for defective work which will be paid after defect is set right Both the above could be outstanding for more than 180 days. Does it mean the developer has to reverse the Input Credit already availed on above two components.
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