Through this scheme government has made efforts for revival of real estate sector by lowering the GST rates as it will lower the prices of apartment thereby increasing the purchasing power of the common man. Hopefully government meets its objectives through this scheme.
Section 54 of CGST Act 2017 provides various mechanism to the taxpayer under which they can claim REFUND of the INPUT TAX CREDIT (ITC) they had paid on the purchase of their supplies and otherwise also. > PROVISION As per explanation 3 to section 54 the registered person may claim refund of any unutilised input […]
