Basera Flat Owners' Association & Ors Vs Revital Reality Pvt Ltd
Date: January 1, 2020
Subject Matter
Mandatory reversal of unutilized ITC in respect of unsold flats/shops of a real estate project must be done at the time of receipt of completion/ occupancy certificate or on the date of first occupancy, whichever is earlier
Summary
The reversal of the ITC has been effected by the Respondent even before occupancy certification/ completion certificate was issued by the competent authority. The above voluntary reversal of the credit has been effected by the Respondent only i…
The present Report dated 02.07.2019 has been received from the Applicant No. 9 i.e. the Director General of Anti-Profiteering (DGAP) after detailed investigation under Rule 129 (6) of the Central Goods & Service Tax (CGST) Rules, 2017 . The brief facts of the present case are that the Applicants No. 1 to 8 had filed applications before the Haryana State Screening Committee stating that the Res…