Promoter Cannot Deduct GST Loss from Apartment Cancellation Refund Despite 10% Cancellation Charges in Agreement

Promoter Cannot Deduct GST Loss from Apartment Cancellation Refund Despite 10% Cancellation Charges in AgreementCase-LawsGSTHC ruled against the promoter’s attempt to deduct GST loss of Rs. 11,40,376/- from the refund amount following apartment cancellati

Promoter Cannot Deduct GST Loss from Apartment Cancellation Refund Despite 10% Cancellation Charges in Agreement
Case-Laws
GST
HC ruled against the promoter's attempt to deduct GST loss of Rs. 11,40,376/- from the refund amount following apartment cancellation. The court found no contractual provision in the Sale and Construction Agreements for GST deduction upon cancellation. The promoter's initial communication only mentioned 10% cancellation charges, revealing GST loss deduction only

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