GST Tip – 285

Notification No. 15/2017-Central Tax (Rate), refund of un utilized input tax credit is allowed in case of sub-item (b) of item 5 of Schedule II of the Central Goods and Services Tax Act. It refers to “(b) construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly,
except where the entire consideration has been received after issuance of completion
certificate, where required, by the competent authority or after its first occupation,
whichever is earlier.”