Fwd: Input Tax Credit Query- E1103

[Kumar Raja]

Dear Friends,

Wish you all a Happy and Prosperous New Year 2018.

I am forwarding/sharing my mail to Indiabulls, to the Group, for information.

Regards

K Kumar Raja

E1103

8800010589

---------- Forwarded message ----------
From: Kumar Raja <kkra...@gmail.com>
Date: Mon, Jan 1, 2018 at 7:57 PM
Subject: Fwd: Input Tax Credit Query- E1103
To: Customer Care <custom...@indiabulls.com>, Praveena <praveena.damera@indiabulls.com>

Dear Sir

The reply received for my following mail in not proper & is inadequate i.e., it does not clarify the calculation and could not justify the additional taxe incidence on account of GST. The instalment as per the original schedule is Rs5,29,376/-; this must have been reduced on a/c of input-tax credit, which you are not willing to do & discussing with legal experts (instead tax-consultants). On the other hand you are insisting us pay more in the name of GST, which is not correct & you are aware of it.

Under the circumstances, I am being compelled to pay the entire amount of installment demanded, under protest. Being very highly reputed with all India presence, I believe your company would do the necessary adjustment for the input credit in future installments & pass on the benefit to me. However, kindly note that I reserve my right to get the credit for the input benefit, as intended by the statute, by appropriate means & at appropriate time.

Tomorrow I am remitting the amount demanded by you Rs5,67,373/-

Regards

K Kumar Raja

8800010589

---------- Forwarded message ----------
From: Kumar Raja <kkra...@gmail.com>
Date: Wed, Dec 20, 2017 at 10:18 AM
Subject: Re: Input Tax Credit Query- E1103
To: Praveena <praveen...@indiabulls.com>, Customer Care <custom...@indiabulls.com>

Dear Sir

Thanks for your above mail. I would like to mention the following:-

1. Please find attached - press note of Chief Commissioner of Central Tax & Customs, Visakhapatnam Dt.6th Dec'17, giving detailed clarification with computation example of input tax credit. Hence, it is all clear; no room for confusion. 

2. You must have also seen the press reports regarding innumerable complaints of flat buyers to 'National Anti-Profiteering Authority' - regarding builders not passing the benefit to the flat-buyers. And now NAA is proposing to probe the builders in this regard.

3. In view of the above, kindly ascertain the net amount payable after input tax credit and raise a fresh demand, so that I shall remit the amount immediately.

IndiaBulls is a highly reputed developer and has all India presence in diversified sectors; hence we believe you would respond positively.

Regards

K Kumar Raja

8800010589

On Sun, Dec 17, 2017 at 11:05 AM, Praveena <praveen...@indiabulls.com> wrote:

Dear Sir,

Greetings from Indiabulls Real Estate!

With reference to your query on benefit of tax credits to be passed on to customers under GST, we would like to assure you that, the company is in discussions with their legal advisors on the workings for the mechanism to determine the benefit, if any, on account of credit available under the GST regime which was not available under the erstwhile regime of VAT & Service tax. However, you would appreciate that, there are various factors which need to be considered like benefits which our suppliers/contractor swill pass on to us, the extent of work already completed till 30^th June-17, the rate of taxes on materials /services under erstwhile regime and under GST regime etc. We assure that, we would be informing you about the above at the earliest.

Also, we request you to pay the outstanding dues immediately as per attached demand letter to avoid late payment charges.

Please note that delay in making payment towards payment schedule would attract a penalty @18% p.a and interest will keep accumulating till outstanding dues are cleared in our account.

                             

Kindly let us know if you are in the need of any information/clarification, shall glad to assist.

 

Thanks & Regards,

Praveena

Indiabulls Real Estate Ltd

Visakhapatnam

Mob: 7011 998 128

 

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