Builders Receive GST Notices, Directed to Reverse Input Tax Credit

21 Feb 2024 CW Team

Builders in India have recently been served with GST notices, compelling them to reverse input tax credit, in a regulatory measure aimed at enhancing compliance and transparency in the real estate sector. The move reflects the authorities' commitment to streamline taxation processes and ensure adherence to GST regulations within the construction and real estate industry.

The notices issued to builders signal a focused effort by regulatory bodies to address potential irregularities related to input tax credit claims. By instructing builders to reverse these credits, the authorities aim to rectify any discrepancies and maintain the integrity of the GST framework in the real estate domain.

Input tax credit is a crucial component of the GST system, allowing businesses to offset taxes paid on inputs against their final tax liability. The regulatory intervention emphasises the need for accurate reporting and adherence to GST guidelines by builders to prevent any misuse of input tax credit mechanisms.

The impact of these notices extends beyond individual builders, influencing the broader dynamics of the real estate and construction sector. Stakeholders, including developers, homebuyers, and regulatory authorities, will closely monitor the outcomes of this regulatory action to ensure a fair and transparent taxation environment within the industry.

The issuance of GST notices represents a proactive step by regulatory bodies to uphold the principles of the GST framework and ensure that builders comply with established taxation norms. As the real estate sector continues to evolve, such measures contribute to creating a level playing field and fostering trust among stakeholders in the construction and real estate industry.

Infrastructure Urban

26 Aug 2025

REC honoured with ‘Best Design Thinking Award’ at DNA Awards 2025

REC, a Maharatna NBFC under the Ministry of Power, has received the ‘Best Design Thinking Award’ at the 5th Distinguished NBFC Awards (DNA Awards) hosted by Banking Frontiers.The award acknowledges REC’s digital initiatives in Retail Bonds, highlighting the company’s efforts to leverage technology and design thinking to improve customer experience and service delivery.Jitendra Srivastava, CMD, REC, congratulated the finance team for their commitment and contribution towards driving innovation. Harsh Baweja, Director (Finance), along with senior officials, joined in celebrating the reco..

How India’s Logistics Sector Becoming Smarter, Faster, and Fairer

India’s logistics system, once criticized for being slow and fragmented, is now showing signs of a genuine turnaround. Policy reforms, new infrastructure, and rapid adoption of technology are changing the way goods move across the country. Officials argue the impact will be felt not just in lower costs, but in faster operations and more equitable opportunities for small businesses.Smarter: Digital Innovation Taking HoldThe biggest shift has been digital. Artificial Intelligence (AI), Machine Learning (ML), IoT and block chain are no longer buzzwords, they are now being used on the ground. Fl..

Hindustan Zinc Charts Multi-metal Future as Cornerstone of 2x Growth Strategy

Hindustan Zinc, a Vedanta Group company and the world’s largest integrated zinc producer, has announced a bold transformation agenda – Hindustan Zinc 2.0 – to evolve from a zinc-and-silver leader into a diversified, multi-metal enterprise powering India’s future growth.Addressing shareholders at the company’s 59th Annual General Meeting, Chairperson Priya Agarwal Hebbar said, “Hindustan Zinc is moving beyond its zinc and silver legacy to become a multi-metal, future-ready enterprise. As demand for critical minerals grows across clean energy, digital infrastructure, and national sec..