RCM TO PAY BY DEVELOPER FOR SHOPS TRANSFER AS BARTER TO TENANT AT THE TIME OF FIRST OCCUPANCY RECEIVED

Under REP Project(100% Commercial) do developer require to pay GST(RCM) for area allotted to Tenants under barter system. Though as per GST provisions recognise such transfer of development rights as a ‘barter,’ which is a taxable supply. This builder pays this levy at a later stage, it is paid at the time of first occupancy or receipt of the completion certificate. whichever is earlier. However, The builder also incurs GST during the construction phase which according to the industry averages 18%, for which no input tax credit is available. For example, the GST paid by the builder on cement or…

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  RCM on ocean freight

RCM on ocean freight was struck down by Supreme court in Mohit Mineral"s case. However notifcation exempting RCM on Ocean freight was made effective from 1st October 2023. Does this mean that RCM is payable till 30th Sepember 2023 ?

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  CAN SERVICE TAX ON RCM BASIS PAID AS CGST NOW BE CLAIMED AS ITC IN GST REGIME

Liability of SERVICE TAX on RCM basis on service received of GTA was determined by the department. The assessee - partnership firm has paid such liability by making payment under the head CGST (as there was no service tax registration and officer told to make payment under CGST). Can the partnership firm claim ITC of such CGST paid in GST now.

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