9911796707
TMI Blog2020 (9) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... ey are engaged in construction business. Their project V2 Signature is going on at Chala, Vapi. Ground and First Floor in all wings of their project are commercial shops. Remaining floors are residential flats. Further, submitted that they have received BUP (Completion Certificate) for commercial shops i.e. Ground and First floors on 26.09.2017. Therefore, they are not liable to pay GST from 26.09.2017 on new commercial bookings. There is also first occupancy in the building from 26.12.2017. 3. Accordingly, the applicant sought Advance Ruling on the following questions: I Whether selling of residential flats after date of completion certificate of commercial shops or after first occupancy in building is exempt supply? II Manner of rever ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the CGST Act would also mean a reference to the same provisions under the GGST Act. 7. The applicant has submitted that they are engaged in construction business. Their project V2 Signature is going on at Chala, Vapi and in the said project, Ground and First Floor in all wings of their projects are commercial shops. Remaining floors are residential flats. The applicant submitted that they have received BUP (Completion Certificate) for commercial shops i.e. Ground and First floors on 26.09.2017. There is also first occupancy in the building from 26.12.2017. Accordingly, the applicant sought the Advance Ruling on the following question: I Whether selling of residential flats after date of completion certificate of commercial shops or aft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as submitted the copy of Building Used Permission No. TP/Regi2/Vashi/2017-18 dated 26.09.2017 "GRANT OF PART BUILDING USE PERMISSION" issued by Chief Officer, Vapi Area Development Authority. In the said permission, it is mentioned "Total FSI Area: 4820.38 Sq. Mt. (Ground and First Floor)". This clearly shows that they have received the BU Permission for the Ground and First Floor i.e. only for commercial shops of building. The applicant has not submitted any documents, by which it can be established that they have received the Building Used Permission in respect of Residential Flats as such said aforesaid B. U. Permission is Part Building used permission and not for entire building. The applicant has submitted that, "there is also first oc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and 17 of CGST Act, 2017. 11. In view of the foregoing we rule as follows: RULING Question 1. Whether selling of residential flats after date of completion certificate of commercial shops or after first occupancy in building is exempt supply? Ans. Negative. Question 2. Manner of reversal of ITC on expenses incurred upto date of completion certificate shops. Answer : The manner of reversal of ITC on expenses incurred up to date of completion certificate shops has been provided under Sections 16 and 17 of CGST Act, 2017 read with Rules 42 and 43 of CGST Rules, 2017 read with Notification No. 16/2019-CT dated 29.03.2019. Question 3. Manner of claiming ITC on expenses incurred after date of completion certificate of commercial shops. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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