Tax department issues notices to realtors for inflated credit claims under GST

About 400 real estate developers, including listed companies, have received notices from the indirect tax department for inflated credit claims under the Goods and Services Tax (GST), said two people aware of the development. The developers have been asked to pay a fine of 100% and interest of about 18% on the wrongly claimed credit, according to the notices. Many developers, especially those with…