Builder entitled to service tax credit/refund on cancellation of bookings

Ratnawat Infra Construction Company LLP Vs Commissioner, Central Excise & CGST (CESTAT Delhi) Situation which arises in this particular type of business of developing real estate, the CBIC have considered and have clarified that the developer/builder is entitled to service tax credit on cancellation of bookings, wherein the builder have refunded the amount of booking including service tax to the buyer of the flat. CESTAT find that there is no dispute on facts with regard to booking and cancellation and the refund made by the appellant to the buyer including the amount of service tax. Furth...