Enter how your building is used and the credit you took, by kind and year; you get each line's position, the price of reversing now against waiting, and a position note to sign.
Your answer
| Kind | Year | Credit | Position | Notice door | Reverse now costs |
|---|
| FY | Credit | Door | Reverse now | If a notice comes and you lose (today) | Interest added per year |
|---|
Interest at 18% a year on credit used, from the date it was used to today; none on unused credit. A wrong guess on the date moves only the interest.
| FY | Credit | Pay | Penalty |
|---|
Cases are quoted from reported summaries; read the order before you rely on it in a reply.
The Finance Act 2025 rewrote the block on building credit with effect from 1 July 2017: "plant or machinery" now reads "plant and machinery", whatever any court said. It did not touch the words "on his own account", which is why a let-out building is still arguable and an own-use one is not.
A contractor's works contract for the building is blocked by a different clause that has no "own account" words, so it is blocked whether you let the building out or use it yourself.
Each year has a last date for a new notice: ordinary notices first, then only fraud notices, then none. The tool labels each line's door from a fixed table; it is not a time-bar calculator, and a notice already served still runs.
Interest is 18% a year, and only on credit you actually used to pay tax. Without your dates the tool assumes the credit was used on 20 October of the year; type real dates in "Fine-tune the figures".
Penalties, in plain words:
| Notice | Pay before a notice | Pay within the notice window | After the order |
|---|---|---|---|
| No fraud alleged (s.73, s.74A) | None | None (30 days; 60 for s.74A) | 10% of the tax or ₹10,000, whichever is higher |
| Fraud alleged (s.74, s.74A) | 15% | 25% (30 days; 60 for s.74A) | 50% within 30 days of the order (60 for s.74A), else 100% |
The tool assumes no penalty on a voluntary payment where you claimed openly. The 57th GST Council's proposed lower penalty is a recommendation that needs a law change, so it is not used here.
Rules checked . Cases are quoted from reported summaries, and advance rulings bind only the business that asked for them.